US Bancorp DE Reduces Stock Position in Brookfield Asset Management Inc (NYSE:BAM)

US Bancorp DE lowered its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,709 shares of the financial services provider’s stock after selling 1,250 shares during the quarter. US Bancorp DE’s holdings in Brookfield Asset Management were worth $1,293,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Brookfield Asset Management in the 4th quarter valued at $335,315,000. Jarislowsky Fraser Ltd raised its position in Brookfield Asset Management by 62.6% during the 4th quarter. Jarislowsky Fraser Ltd now owns 10,478,325 shares of the financial services provider’s stock worth $401,395,000 after purchasing an additional 4,033,441 shares during the last quarter. Mackenzie Financial Corp raised its position in Brookfield Asset Management by 36.0% during the 4th quarter. Mackenzie Financial Corp now owns 12,258,486 shares of the financial services provider’s stock worth $470,113,000 after purchasing an additional 3,244,827 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Brookfield Asset Management during the 1st quarter worth $134,450,000. Finally, Montrusco Bolton Investments Inc. bought a new position in Brookfield Asset Management during the 4th quarter worth $71,319,000. 61.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of BAM traded up $0.11 during trading hours on Friday, hitting $47.78. The stock had a trading volume of 1,492,700 shares, compared to its average volume of 1,380,953. The firm has a market cap of $47.25 billion, a price-to-earnings ratio of 14.94 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 1-year low of $36.58 and a 1-year high of $48.74. The business’s 50 day moving average is $47.28.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.34%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.15.

Several research analysts recently issued reports on the company. TD Securities raised their target price on Brookfield Asset Management from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. BMO Capital Markets reissued a “buy” rating on shares of Brookfield Asset Management in a research report on Friday, April 5th. Six research analysts have rated the stock with a buy rating, Brookfield Asset Management has a consensus rating of “Buy” and a consensus price target of $52.92.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of Brookfield Asset Management stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this link.

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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