Benjamin F. Edwards & Company Inc. grew its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 103.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 808 shares of the financial services provider’s stock after purchasing an additional 410 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Brookfield Asset Management were worth $43,000 as of its most recent SEC filing.
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Several other large investors also recently bought and sold shares of BAM. Strategic Blueprint LLC bought a new position in Brookfield Asset Management during the 3rd quarter valued at $25,000. HM Payson & Co. bought a new position in Brookfield Asset Management during the 2nd quarter valued at $32,000. KCS Wealth Advisory bought a new position in Brookfield Asset Management during the 3rd quarter valued at $40,000. Wealthcare Advisory Partners LLC boosted its stake in Brookfield Asset Management by 111.9% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 858 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 453 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its stake in Brookfield Asset Management by 233.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 979 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 685 shares in the last quarter. 57.10% of the stock is owned by institutional investors.
Shares of NYSE:BAM traded up $0.19 during midday trading on Monday, hitting $57.28. The company’s stock had a trading volume of 76,545 shares, compared to its average volume of 1,272,502. The stock has a market capitalization of $59.77 billion, a price-to-earnings ratio of 15.33 and a beta of 1.05. The stock’s 50 day simple moving average is $54.59 and its 200 day simple moving average is $50.74. Brookfield Asset Management Inc has a fifty-two week low of $36.58 and a fifty-two week high of $58.10. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.89 and a current ratio of 1.11.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, November 14th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.80. The company had revenue of $17.88 billion for the quarter, compared to the consensus estimate of $13.92 billion. Brookfield Asset Management had a return on equity of 3.95% and a net margin of 5.82%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, November 27th.
A number of brokerages have issued reports on BAM. Citigroup lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. TD Securities increased their price objective on Brookfield Asset Management from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, November 15th. ValuEngine downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada increased their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, BMO Capital Markets increased their price objective on Brookfield Asset Management from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $62.25.
Brookfield Asset Management Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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