118,425 Shares in Brookfield Asset Management Inc (NYSE:BAM) Acquired by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc purchased a new stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 118,425 shares of the financial services provider’s stock, valued at approximately $5,525,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAM. Kayne Anderson Capital Advisors LP boosted its stake in shares of Brookfield Asset Management by 6.3% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 50,900 shares of the financial services provider’s stock worth $1,951,000 after acquiring an additional 3,000 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of Brookfield Asset Management by 22.6% during the 4th quarter. Jane Street Group LLC now owns 33,360 shares of the financial services provider’s stock worth $1,279,000 after acquiring an additional 6,145 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Brookfield Asset Management by 116.0% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 450 shares in the last quarter. Madison Investment Holdings Inc. boosted its stake in shares of Brookfield Asset Management by 1.6% during the 4th quarter. Madison Investment Holdings Inc. now owns 2,369,446 shares of the financial services provider’s stock worth $90,868,000 after acquiring an additional 37,237 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new stake in shares of Brookfield Asset Management during the 1st quarter worth $2,947,000. 61.45% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on BAM. TD Securities raised their price objective on Brookfield Asset Management from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. BMO Capital Markets reissued a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. Finally, Royal Bank of Canada raised their price objective on Brookfield Asset Management from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 19th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $52.92.

Shares of BAM traded up $0.05 during trading hours on Wednesday, hitting $47.46. 64,160 shares of the company were exchanged, compared to its average volume of 1,411,241. The firm has a market cap of $47.03 billion, a PE ratio of 15.00 and a beta of 1.14. The company has a quick ratio of 0.91, a current ratio of 1.10 and a debt-to-equity ratio of 1.18. Brookfield Asset Management Inc has a one year low of $36.58 and a one year high of $48.43.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Thursday, May 9th. The financial services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $15.21 billion during the quarter, compared to analysts’ expectations of $12.35 billion. Brookfield Asset Management had a return on equity of 3.86% and a net margin of 5.63%. During the same quarter last year, the firm posted $1.16 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, May 30th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.15.

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About Brookfield Asset Management

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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