LPL Financial LLC Boosts Holdings in Brookfield Asset Management Inc (NYSE:BAM)

LPL Financial LLC grew its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 7.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,785 shares of the financial services provider’s stock after purchasing an additional 1,914 shares during the period. LPL Financial LLC’s holdings in Brookfield Asset Management were worth $1,328,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. FIL Ltd raised its stake in shares of Brookfield Asset Management by 7.8% during the first quarter. FIL Ltd now owns 20,918,094 shares of the financial services provider’s stock valued at $974,566,000 after purchasing an additional 1,518,467 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Asset Management by 16.3% during the first quarter. The Manufacturers Life Insurance Company now owns 13,809,349 shares of the financial services provider’s stock valued at $644,206,000 after purchasing an additional 1,932,199 shares during the period. CIBC Asset Management Inc increased its stake in shares of Brookfield Asset Management by 1.3% in the second quarter. CIBC Asset Management Inc now owns 12,439,556 shares of the financial services provider’s stock worth $595,106,000 after buying an additional 160,536 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in shares of Brookfield Asset Management by 3.3% in the second quarter. Mawer Investment Management Ltd. now owns 9,721,487 shares of the financial services provider’s stock worth $465,982,000 after buying an additional 313,644 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Brookfield Asset Management by 7.5% in the first quarter. Neuberger Berman Group LLC now owns 9,299,993 shares of the financial services provider’s stock worth $433,844,000 after buying an additional 650,319 shares during the last quarter. Institutional investors own 60.79% of the company’s stock.

In other Brookfield Asset Management news, Director Brookfield Asset Management In sold 1,900,000 shares of Brookfield Asset Management stock in a transaction on Friday, June 21st. The shares were sold at an average price of $23.75, for a total value of $45,125,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

BAM has been the subject of a number of research analyst reports. Citigroup lifted their price target on shares of Brookfield Asset Management from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. BMO Capital Markets lifted their price target on shares of Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Royal Bank of Canada lifted their price target on shares of Brookfield Asset Management from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, TD Securities lifted their price target on shares of Brookfield Asset Management from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $56.50.

Brookfield Asset Management stock traded up $0.72 during mid-day trading on Thursday, reaching $54.30. The company’s stock had a trading volume of 702,277 shares, compared to its average volume of 1,508,514. The firm has a market cap of $53.35 billion, a price-to-earnings ratio of 18.08 and a beta of 1.08. The business has a 50 day moving average price of $51.26 and a 200-day moving average price of $48.36. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.29. Brookfield Asset Management Inc has a twelve month low of $36.58 and a twelve month high of $54.11.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, August 8th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.25. The firm had revenue of $16.92 billion during the quarter, compared to the consensus estimate of $14.30 billion. Brookfield Asset Management had a net margin of 4.86% and a return on equity of 3.31%. The firm’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 30th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, August 29th.

Brookfield Asset Management Company Profile

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: What is a good rate of return for a mutual fund?

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

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