Parsons Capital Management Inc. RI Sells 500 Shares of Brookfield Asset Management Inc (NYSE:BAM)

Parsons Capital Management Inc. RI lessened its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2.1% in the second quarter, HoldingsChannel.com reports. The firm owned 23,721 shares of the financial services provider’s stock after selling 500 shares during the period. Parsons Capital Management Inc. RI’s holdings in Brookfield Asset Management were worth $1,133,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stephens Inc. AR boosted its holdings in shares of Brookfield Asset Management by 2.0% in the 2nd quarter. Stephens Inc. AR now owns 11,597 shares of the financial services provider’s stock worth $554,000 after buying an additional 231 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Brookfield Asset Management by 81.9% in the 2nd quarter. Advisory Services Network LLC now owns 30,850 shares of the financial services provider’s stock worth $1,474,000 after buying an additional 13,886 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Brookfield Asset Management by 54.0% in the 2nd quarter. Signaturefd LLC now owns 2,354 shares of the financial services provider’s stock worth $112,000 after buying an additional 825 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Brookfield Asset Management by 3.0% in the 2nd quarter. Great West Life Assurance Co. Can now owns 7,745,503 shares of the financial services provider’s stock worth $369,776,000 after buying an additional 228,697 shares during the last quarter. Finally, Aperio Group LLC purchased a new position in shares of Brookfield Asset Management in the 2nd quarter worth about $699,000. Institutional investors and hedge funds own 60.88% of the company’s stock.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $23.75, for a total transaction of $45,125,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Royal Bank of Canada upped their price objective on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the company a “buy” rating in a report on Monday. Citigroup upped their price objective on shares of Brookfield Asset Management from $54.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, TD Securities upped their price objective on shares of Brookfield Asset Management from $63.00 to $67.00 and gave the company a “buy” rating in a report on Friday, August 9th. Six research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $56.50.

NYSE BAM traded up $1.05 during trading on Friday, hitting $51.10. 132,193 shares of the company’s stock traded hands, compared to its average volume of 1,508,714. The stock has a market capitalization of $49.83 billion, a price-to-earnings ratio of 17.48 and a beta of 1.12. Brookfield Asset Management Inc has a 12-month low of $36.58 and a 12-month high of $51.16. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. The business has a 50 day moving average of $48.98 and a 200-day moving average of $47.07.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.25. The business had revenue of $16.92 billion for the quarter, compared to the consensus estimate of $14.30 billion. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.38%. The company’s revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 29th.

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.

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

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