Brookfield Asset Management Inc (BAM) Shares Sold by Korea Investment CORP

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Korea Investment CORP lowered its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 15.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 379,555 shares of the financial services provider’s stock after selling 68,300 shares during the quarter. Korea Investment CORP’s holdings in Brookfield Asset Management were worth $15,388,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in Brookfield Asset Management by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 45,246 shares of the financial services provider’s stock valued at $1,765,000 after purchasing an additional 1,296 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its holdings in Brookfield Asset Management by 0.4% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 389,000 shares of the financial services provider’s stock valued at $15,153,000 after purchasing an additional 1,400 shares in the last quarter. Greystone Investment Management LLC lifted its holdings in Brookfield Asset Management by 0.5% in the 2nd quarter. Greystone Investment Management LLC now owns 335,006 shares of the financial services provider’s stock valued at $13,400,000 after purchasing an additional 1,615 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Brookfield Asset Management by 5.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,245 shares of the financial services provider’s stock valued at $1,179,000 after purchasing an additional 1,651 shares in the last quarter. Finally, Comerica Bank lifted its holdings in Brookfield Asset Management by 3.3% in the 2nd quarter. Comerica Bank now owns 56,379 shares of the financial services provider’s stock valued at $2,366,000 after purchasing an additional 1,783 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BAM stock opened at $42.49 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.01 and a current ratio of 1.26. The firm has a market capitalization of $42.35 billion, a price-to-earnings ratio of 15.93 and a beta of 1.04. Brookfield Asset Management Inc has a fifty-two week low of $37.22 and a fifty-two week high of $44.33.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, August 9th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.58. Brookfield Asset Management had a return on equity of 3.74% and a net margin of 5.49%. The company had revenue of $13.28 billion for the quarter. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 40.6% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.60 annualized dividend and a dividend yield of 1.41%.

A number of brokerages have weighed in on BAM. Royal Bank of Canada raised their price objective on Brookfield Asset Management from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Scotiabank restated a “buy” rating and issued a $50.50 price objective on shares of Brookfield Asset Management in a report on Tuesday, August 7th. Finally, TD Securities raised their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the company a “buy” rating in a report on Monday, May 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Brookfield Asset Management presently has a consensus rating of “Buy” and a consensus price target of $49.80.

Brookfield Asset Management Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.

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Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

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