Adalta Capital Management LLC trimmed its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,966 shares of the financial services provider’s stock after selling 2,687 shares during the period. Brookfield Asset Management comprises 3.5% of Adalta Capital Management LLC’s holdings, making the stock its 9th biggest holding. Adalta Capital Management LLC’s holdings in Brookfield Asset Management were worth $4,252,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of BAM. QS Investors LLC grew its holdings in Brookfield Asset Management by 69.8% during the 2nd quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 1,150 shares during the last quarter. Veritas Investment Management UK Ltd bought a new position in Brookfield Asset Management during the 3rd quarter valued at about $149,000. Atlantic Trust LLC bought a new position in Brookfield Asset Management in the 2nd quarter worth about $191,000. Bronfman E.L. Rothschild L.P. grew its stake in Brookfield Asset Management by 112.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 2,738 shares in the last quarter. Finally, HM Payson & Co. bought a new position in Brookfield Asset Management in the 2nd quarter worth about $203,000. Institutional investors own 54.61% of the company’s stock.
A number of equities analysts have commented on the stock. TheStreet downgraded shares of Brookfield Asset Management from a “b” rating to a “c+” rating in a research note on Thursday, November 16th. Royal Bank of Canada upped their target price on shares of Brookfield Asset Management from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Scotiabank upped their target price on shares of Brookfield Asset Management from $44.75 to $45.50 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Citigroup dropped their target price on shares of Brookfield Asset Management from $50.00 to $49.50 and set a “buy” rating on the stock in a research note on Friday, November 10th. Finally, Canaccord Genuity restated a “buy” rating and issued a $47.00 target price on shares of Brookfield Asset Management in a research note on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, November 29th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. Brookfield Asset Management’s dividend payout ratio is presently 124.45%.
About Brookfield Asset Management
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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