Harel Insurance Investments & Financial Services Ltd. Buys New Holdings in Brookfield Asset Management Inc. (NYSE:BAM)

Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 690 shares of the financial services provider’s stock, valued at approximately $39,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its stake in Brookfield Asset Management by 46.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 201 shares during the last quarter. Glassman Wealth Services boosted its stake in Brookfield Asset Management by 6.5% during the 4th quarter. Glassman Wealth Services now owns 3,951 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 241 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Brookfield Asset Management by 2.0% during the 4th quarter. Raymond James Trust N.A. now owns 12,829 shares of the financial services provider’s stock valued at $775,000 after purchasing an additional 247 shares during the last quarter. Blue Fin Capital Inc. boosted its stake in Brookfield Asset Management by 0.3% during the 1st quarter. Blue Fin Capital Inc. now owns 77,803 shares of the financial services provider’s stock valued at $4,401,000 after purchasing an additional 264 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in Brookfield Asset Management by 2.6% during the 1st quarter. Belpointe Asset Management LLC now owns 10,470 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 268 shares during the last quarter. Institutional investors and hedge funds own 60.24% of the company’s stock.

Brookfield Asset Management Price Performance

Brookfield Asset Management stock opened at $48.26 on Tuesday. Brookfield Asset Management Inc. has a 12 month low of $42.21 and a 12 month high of $62.47. The company has a current ratio of 1.17, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The business’s 50 day simple moving average is $46.54 and its 200 day simple moving average is $51.48. The company has a market cap of $79.22 billion, a price-to-earnings ratio of 19.86 and a beta of 1.32.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last posted its quarterly earnings data on Thursday, May 12th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.70 by $0.11. Brookfield Asset Management had a return on equity of 3.25% and a net margin of 5.04%. The business had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $18.35 billion. During the same quarter in the prior year, the business earned $1.80 earnings per share. Sell-side analysts forecast that Brookfield Asset Management Inc. will post 3.23 EPS for the current year.

Brookfield Asset Management Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Tuesday, May 31st were paid a $0.14 dividend. The ex-dividend date was Friday, May 27th. This represents a $0.56 annualized dividend and a yield of 1.16%. Brookfield Asset Management’s payout ratio is 23.05%.

Insider Buying and Selling at Brookfield Asset Management

In other Brookfield Asset Management news, insider Brookfield Asset Management In sold 750,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $25.77, for a total transaction of $19,327,500.00. Following the sale, the insider now owns 18,538,903 shares of the company’s stock, valued at approximately $477,747,530.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Brookfield Asset Management news, insider Brookfield Asset Management In sold 750,000 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $25.77, for a total transaction of $19,327,500.00. Following the sale, the insider now owns 18,538,903 shares of the company’s stock, valued at approximately $477,747,530.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Oaktree Capital Management Lp sold 191,591 shares of the business’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $11.30, for a total transaction of $2,164,978.30. Following the sale, the insider now directly owns 11,622,000 shares in the company, valued at approximately $131,328,600. The disclosure for this sale can be found here. Insiders have sold 3,994,984 shares of company stock valued at $94,356,676 in the last 90 days.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BAM shares. StockNews.com downgraded Brookfield Asset Management from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Deutsche Bank Aktiengesellschaft cut their target price on Brookfield Asset Management from $57.00 to $52.00 in a research note on Wednesday, July 13th. Royal Bank of Canada cut their target price 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, Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $71.50 in a research note on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.

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.

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