Evercore Wealth Management LLC Lowers Position in Brookfield Asset Management Inc. (NYSE:BAM)

Evercore Wealth Management LLC lessened its stake in Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) by 2.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,449 shares of the financial services provider’s stock after selling 1,033 shares during the quarter. Evercore Wealth Management LLC’s holdings in Brookfield Asset Management were worth $1,755,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BAM. BlackRock Inc. lifted its holdings in shares of Brookfield Asset Management by 27.8% in the fourth quarter. BlackRock Inc. now owns 51,552 shares of the financial services provider’s stock worth $2,128,000 after buying an additional 11,228 shares in the last quarter. FIL Ltd raised its stake in Brookfield Asset Management by 13.9% during the fourth quarter. FIL Ltd now owns 31,841,182 shares of the financial services provider’s stock valued at $1,316,272,000 after purchasing an additional 3,891,999 shares in the last quarter. Barclays PLC raised its stake in Brookfield Asset Management by 84.2% during the fourth quarter. Barclays PLC now owns 10,839 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 4,955 shares in the last quarter. LPL Financial LLC raised its stake in Brookfield Asset Management by 10.3% during the fourth quarter. LPL Financial LLC now owns 60,992 shares of the financial services provider’s stock valued at $2,517,000 after purchasing an additional 5,689 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Brookfield Asset Management by 0.7% during the fourth quarter. Janus Henderson Group PLC now owns 343,716 shares of the financial services provider’s stock valued at $14,184,000 after purchasing an additional 2,238 shares in the last quarter. 63.47% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BAM opened at $50.97 on Thursday. The business has a 50-day moving average of $50.05. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $80.42 billion, a PE ratio of 60.68 and a beta of 1.25. Brookfield Asset Management Inc. has a 12 month low of $29.09 and a 12 month high of $52.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Wednesday, May 12th. The financial services provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.33. Brookfield Asset Management had a net margin of 2.23% and a return on equity of 1.22%. The firm had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $10.89 billion. During the same period in the prior year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts forecast that Brookfield Asset Management Inc. will post 2.17 earnings per share for the current year.

The firm also recently announced a dividend, which was paid on Monday, June 28th. Shareholders of record on Friday, June 18th were issued a dividend of $0.13 per share. This represents a yield of 1.04%. The ex-dividend date was Thursday, June 17th. Brookfield Asset Management’s payout ratio is -200.00%.

A number of equities research analysts recently issued reports on BAM shares. Credit Suisse Group downgraded shares of Brookfield Asset Management from an “outperform” rating to a “neutral” rating and upped their price target for the company from $52.00 to $54.00 in a research note on Wednesday, March 31st. JPMorgan Chase & Co. upped their price target on shares of Brookfield Asset Management from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, June 18th. Zacks Investment Research upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Monday, May 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Brookfield Asset Management from $46.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, July 12th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.59.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a leading global alternative asset manager and one of the largest investors in real assets. Our investment focus is on real estate, renewable power, infrastructure and private equity assets. Our objective is to generate attractive long-term risk-adjusted returns for the benefit of our clients and shareholders.

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

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