Brookfield Asset Management Inc. (NYSE:BAM) Brief Interest Update

Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) was the target of a significant increase in short interest in August. As of August 31, there was short interest totaling 9,330,000 shares, an increase of 19.6% from the total of 7,800,000 shares as of August 15. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 1,470,000 shares, the days-to-cover ratio is currently 6.3 days.

Insider Activity at Brookfield Asset Management

In related news, Opps major shareholder Tpic Holdings, Llc sold 3,963,416 shares of Brookfield Asset Management in a trade dated Thursday, September 8. The shares were sold at an average price of $18.85, for a total transaction of $74,710,391.60. Following the sale, the insider now directly owns 12,263 shares of the company, valued at $231,157.55. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website.

Hedge funds weigh on Brookfield Asset Management

A number of large investors have recently changed their positions in the company. Norges Bank purchased a new equity stake from Brookfield Asset Management in Q4 valued at approximately $810,807,000. Principal Financial Group Inc. increased its stake in shares of Brookfield Asset Management by 12.8% in the first quarter. Principal Financial Group Inc. now owns 43,430,538 shares of the financial services provider valued at $2,456,964,000 after purchasing an additional 4,943,494 shares last quarter. Goldman Sachs Group Inc. increased its stake in shares of Brookfield Asset Management by 166.2% in Q1. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider valued at $398,883,000 after buying an additional 4,402,115 shares last quarter. FMR LLC increased its stake in shares of Brookfield Asset Management by 23.4% in Q2. FMR LLC now owns 22,743,081 shares of the financial services provider valued at $1,011,608,000 after purchasing an additional 4,315,285 shares last quarter. Finally, Select Equity Group LP purchased a new equity stake in Brookfield Asset Management in Q1 valued at approximately $200,315,000. Institutional investors and hedge funds own 59.54% of the company’s shares.

Changes to analyst ratings

A number of research companies have recently published reports on BAM. StockNews.com upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a Tuesday, August 2 report. TD Securities raised its target price on Brookfield Asset Management from $72.00 to $73.00 and gave the stock a “buy on stock list” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Brookfield Asset Management from $57.00 to $52.00 in a Wednesday, July 13 report. Three research analysts gave the stock a hold rating, four gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Brookfield Asset Management trades up 0.7%

NYSE BAM traded down $0.35 on Monday, hitting $48.38. 1,069,344 shares of the company were traded, with an average volume of 1,680,971. The company’s 50-day moving average price is $49.13 and its 200-day moving average price is $50.05 . The company has a debt ratio of 1.44, a current ratio of 1.31 and a quick ratio of 1.11. The company has a market capitalization of $79.17 billion, a P/E ratio of 21.07 and a beta of 1.31. Brookfield Asset Management has a 12-month low of $42.21 and a 12-month high of $62.47.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last reported results on Thursday, August 11. The financial services provider reported earnings per share of $0.34 for the quarter, missing analyst consensus estimates of $0.57 per ($0.23). Brookfield Asset Management posted a net margin of 4.48% and a return on equity of 3.02%. During the same period last year, the company posted earnings per share of $1.01. Analysts expect Brookfield Asset Management to post earnings per share of 3.19 for the current fiscal year.

Brookfield Asset Management announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29. Shareholders of record on Wednesday August 31 will receive a dividend of $0.14. The ex-date of this dividend is Tuesday, August 30. This represents a dividend of $0.56 on an annualized basis and a dividend yield of 1.16%. Brookfield Asset Management’s dividend payout ratio is 24.56%.

Brookfield Asset Management Company Profile

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Brookfield Asset Management is an alternative asset manager and REIT/real estate investment manager firm focused on real estate, renewable energy, infrastructure, 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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