Brookfield Asset Management In Sells 1,900,000 Shares of Brookfield Asset Management Inc (NYSE:BAM) Stock

Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) Director Brookfield Asset Management In sold 1,900,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $23.75, for a total value of $45,125,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of BAM opened at $47.52 on Thursday. The firm’s 50-day moving average is $47.23. Brookfield Asset Management Inc has a twelve month low of $36.58 and a twelve month high of $48.74. The company has a market capitalization of $47.74 billion, a PE ratio of 15.10 and a beta of 1.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Brookfield Asset Management had a return on equity of 3.86% and a net margin of 5.63%. The firm had revenue of $15.21 billion for the quarter, compared to analysts’ expectations of $12.35 billion. During the same period in the prior year, the business posted $1.16 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 1.35%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Brookfield Asset Management by 2.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,502 shares of the financial services provider’s stock valued at $441,000 after buying an additional 279 shares during the period. Advisor Partners LLC increased its position in shares of Brookfield Asset Management by 4.0% during the first quarter. Advisor Partners LLC now owns 7,272 shares of the financial services provider’s stock valued at $339,000 after buying an additional 279 shares during the period. Checchi Capital Advisers LLC increased its position in shares of Brookfield Asset Management by 6.3% during the first quarter. Checchi Capital Advisers LLC now owns 5,726 shares of the financial services provider’s stock valued at $267,000 after buying an additional 339 shares during the period. Colony Group LLC increased its position in shares of Brookfield Asset Management by 7.3% during the fourth quarter. Colony Group LLC now owns 5,665 shares of the financial services provider’s stock valued at $217,000 after buying an additional 386 shares during the period. Finally, Gulf International Bank UK Ltd increased its position in shares of Brookfield Asset Management by 2.5% during the first quarter. Gulf International Bank UK Ltd now owns 16,275 shares of the financial services provider’s stock valued at $759,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 61.23% of the company’s stock.

A number of equities research analysts recently issued reports on BAM shares. TD Securities boosted their price objective on Brookfield Asset Management from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, May 10th. BMO Capital Markets restated a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a buy rating, Brookfield Asset Management currently has a consensus rating of “Buy” and a consensus price target of $52.92.

Brookfield Asset Management Company 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.

Featured Story: Net Margin

Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.