Burgundy Asset Management Ltd. Trims Stock Holdings in Brookfield Asset Management Inc. (NYSE:BAM)

Burgundy Asset Management Ltd. trimmed its holdings in Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 25.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,008,323 shares of the financial services provider’s stock after selling 695,359 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.12% of Brookfield Asset Management worth $121,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brookfield Asset Management Inc. purchased a new position in shares of Brookfield Asset Management during the 3rd quarter valued at $6,974,274,000. Viking Global Investors LP grew its position in shares of Brookfield Asset Management by 311.2% during the 3rd quarter. Viking Global Investors LP now owns 16,987,106 shares of the financial services provider’s stock valued at $908,980,000 after purchasing an additional 12,856,497 shares in the last quarter. FIL Ltd grew its position in shares of Brookfield Asset Management by 30.0% during the 3rd quarter. FIL Ltd now owns 29,604,720 shares of the financial services provider’s stock valued at $1,586,351,000 after purchasing an additional 6,829,447 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Brookfield Asset Management during the 4th quarter valued at $179,508,000. Finally, Morgan Stanley grew its position in shares of Brookfield Asset Management by 14.1% during the 3rd quarter. Morgan Stanley now owns 8,625,026 shares of the financial services provider’s stock valued at $461,527,000 after purchasing an additional 1,066,488 shares in the last quarter. Institutional investors and hedge funds own 60.24% of the company’s stock.

In related news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the business’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $31.00, for a total transaction of $18,157,785.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brookfield Asset Management In sold 750,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $25.77, for a total transaction of $19,327,500.00. Following the transaction, the insider now owns 18,538,903 shares in the company, valued at approximately $477,747,530.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,976,384 shares of company stock valued at $105,795,602.

Shares of NYSE:BAM traded up $2.28 during midday trading on Friday, hitting $47.71. 2,942,122 shares of the stock traded hands, compared to its average volume of 1,761,109. The stock has a market capitalization of $78.31 billion, a PE ratio of 19.63 and a beta of 1.31. The business’s 50 day moving average is $53.50 and its two-hundred day moving average is $56.03. Brookfield Asset Management Inc. has a one year low of $44.13 and a one year high of $62.47.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.70 by $0.11. The firm had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $18.35 billion. Brookfield Asset Management had a net margin of 5.24% and a return on equity of 3.21%. During the same period in the prior year, the firm posted $1.80 earnings per share. Sell-side analysts expect that Brookfield Asset Management Inc. will post 3.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, May 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is 23.05%.

Several research analysts recently issued reports on BAM shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Brookfield Asset Management from $62.00 to $60.00 in a research report on Friday. StockNews.com upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. TD Securities upped their target price on shares of Brookfield Asset Management from $75.00 to $77.00 and gave the stock an “action list buy” rating in a research report on Monday, February 7th. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $68.00 to $71.50 in a research report on Wednesday, April 27th. Finally, Citigroup upped their target price on shares of Brookfield Asset Management from $61.00 to $65.50 in a research report on Friday, February 11th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $66.10.

About Brookfield Asset Management (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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

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