Brookfield Asset Management Inc (NYSE:BAM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 19.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 947,424 shares of the financial services provider’s stock after selling 231,022 shares during the period. JPMorgan Chase & Co. owned about 0.10% of Brookfield Asset Management worth $38,570,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BAM. QS Investors LLC boosted its stake in Brookfield Asset Management by 69.8% in the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,150 shares during the last quarter. Veritas Investment Management UK Ltd purchased a new position in Brookfield Asset Management in the third quarter valued at about $149,000. Atlantic Trust LLC purchased a new position in Brookfield Asset Management in the second quarter valued at about $191,000. Bronfman E.L. Rothschild L.P. boosted its stake in Brookfield Asset Management by 112.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock valued at $203,000 after acquiring an additional 2,738 shares during the last quarter. Finally, HM Payson & Co. purchased a new position in Brookfield Asset Management in the second quarter valued at about $203,000. 54.44% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on BAM shares. TheStreet upgraded shares of Brookfield Asset Management from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th. Citigroup dropped their price target 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. Canaccord Genuity restated a “buy” rating and set a $47.00 price target on shares of Brookfield Asset Management in a research note on Monday, October 2nd. ValuEngine cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Finally, Royal Bank of Canada upped their price target on shares of Brookfield Asset Management from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $47.00.

Brookfield Asset Management Inc (NYSE BAM) traded down $0.49 during midday trading on Tuesday, reaching $43.05. 820,125 shares of the company’s stock traded hands, compared to its average volume of 711,350. Brookfield Asset Management Inc has a fifty-two week low of $32.86 and a fifty-two week high of $44.33. The company has a quick ratio of 1.01, a current ratio of 1.29 and a debt-to-equity ratio of 0.92. The stock has a market cap of $41,771.23, a PE ratio of 95.67 and a beta of 1.04.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, November 30th were paid a $0.18 dividend. The ex-dividend date was Wednesday, November 29th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.67%. Brookfield Asset Management’s dividend payout ratio is currently 124.45%.

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Brookfield Asset Management Company Profile

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.

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

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