Marshall Wace North America L.P. Decreases Stake in Brookfield Asset Management Inc (NYSE:BAM)

Marshall Wace North America L.P. lessened its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 88.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,000 shares of the financial services provider’s stock after selling 38,865 shares during the period. Marshall Wace North America L.P.’s holdings in Brookfield Asset Management were worth $233,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc increased its holdings in shares of Brookfield Asset Management by 2.9% during the third quarter. Vanguard Group Inc now owns 21,512,690 shares of the financial services provider’s stock worth $957,960,000 after buying an additional 607,328 shares in the last quarter. Comerica Bank grew its stake in shares of Brookfield Asset Management by 1.9% in the fourth quarter. Comerica Bank now owns 61,098 shares of the financial services provider’s stock worth $2,567,000 after purchasing an additional 1,157 shares during the last quarter. LPL Financial LLC grew its stake in shares of Brookfield Asset Management by 45.1% in the fourth quarter. LPL Financial LLC now owns 26,456 shares of the financial services provider’s stock worth $1,015,000 after purchasing an additional 8,218 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Brookfield Asset Management in the fourth quarter worth $7,802,000. Finally, Stephens Inc. AR grew its stake in shares of Brookfield Asset Management by 13.4% in the fourth quarter. Stephens Inc. AR now owns 7,626 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 904 shares during the last quarter. Institutional investors own 60.78% of the company’s stock.

BAM has been the topic of several analyst reports. Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $41.00 to $34.00 in a research note on Tuesday, July 9th. BMO Capital Markets reissued a “buy” rating on shares of Brookfield Asset Management in a research note on Friday, April 5th. Finally, TD Securities reduced their price objective on shares of Total Energy Services from C$11.50 to C$10.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. Six research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $54.00.

Shares of Brookfield Asset Management stock traded down $0.61 during trading on Friday, hitting $48.07. The company’s stock had a trading volume of 673,165 shares, compared to its average volume of 990,364. 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 stock has a market capitalization of $48.45 billion, a PE ratio of 15.31 and a beta of 1.11. The firm’s 50-day moving average is $47.89. Brookfield Asset Management Inc has a 52 week low of $36.58 and a 52 week high of $49.40.

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

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were given a dividend of $0.16 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.33%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.15.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.

Further Reading: Catch-Up Contributions

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

Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.