Doyle Wealth Management Boosts Holdings in Brookfield Asset Management Inc. (NYSE:BAM)

Doyle Wealth Management boosted its position in shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,032 shares of the financial services provider’s stock after buying an additional 568 shares during the quarter. Doyle Wealth Management’s holdings in Brookfield Asset Management were worth $1,529,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GoalVest Advisory LLC purchased a new stake in shares of Brookfield Asset Management during the first quarter valued at $28,000. Massmutual Trust Co. FSB ADV raised its holdings in Brookfield Asset Management by 46.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 201 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Brookfield Asset Management in the first quarter worth about $39,000. Financial Management Professionals Inc. raised its holdings in Brookfield Asset Management by 559.1% in the first quarter. Financial Management Professionals Inc. now owns 725 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 615 shares in the last quarter. Finally, GHP Investment Advisors Inc. bought a new position in Brookfield Asset Management in the first quarter worth about $42,000. 59.54% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Stock Up 2.5 %

Brookfield Asset Management stock opened at $49.43 on Friday. Brookfield Asset Management Inc. has a 12 month low of $42.21 and a 12 month high of $62.47. The stock has a market capitalization of $81.14 billion, a PE ratio of 21.68 and a beta of 1.31. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.31 and a quick ratio of 1.11. The business has a 50 day simple moving average of $48.60 and a 200-day simple moving average of $50.28.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 11th. The financial services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.23). Brookfield Asset Management had a net margin of 4.48% and a return on equity of 3.02%. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, analysts anticipate that Brookfield Asset Management Inc. will post 3.19 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is 24.56%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Royal Bank of Canada dropped their price target on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Brookfield Asset Management from $57.00 to $52.00 in a research report on Wednesday, July 13th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Asset Management has a consensus rating of “Moderate Buy” and an average price target of $67.17.

About Brookfield Asset Management

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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.

See Also

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

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