Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 2,710,000 shares, a decline of 76.9% from the November 30th total of 11,710,000 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily volume of 1,970,000 shares, the days-to-cover ratio is presently 1.4 days.
Brookfield Asset Management Trading Down 2.8 %
Shares of BAM traded down $0.80 during midday trading on Wednesday, hitting $28.14. 1,951,054 shares of the stock were exchanged, compared to its average volume of 2,022,875. Brookfield Asset Management has a 52-week low of $26.76 and a 52-week high of $36.50. The stock has a fifty day simple moving average of $39.22 and a 200 day simple moving average of $43.89.
Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, November 10th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The company had revenue of $23.42 billion during the quarter. On average, equities analysts expect that Brookfield Asset Management will post 1.18 earnings per share for the current year.
Brookfield Asset Management Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Tuesday, November 29th.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. CIBC assumed coverage on Brookfield Asset Management in a report on Friday, December 16th. They issued an “outperform” rating and a $37.00 price target for the company. BMO Capital Markets assumed coverage on Brookfield Asset Management in a report on Tuesday, December 13th. They issued a “market perform” rating and a $32.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their target price on Brookfield Asset Management from $52.00 to $44.00 and set a “hold” rating for the company in a report on Wednesday, October 12th. Royal Bank of Canada assumed coverage on Brookfield Asset Management in a report on Wednesday, December 21st. They set an “outperform” rating and a $35.00 target price for the company. Finally, TheStreet cut Brookfield Asset Management from a “b-” rating to a “c” rating in a report on Monday, November 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.11.
Insider Buying and Selling at Brookfield Asset Management
In other news, major shareholder Oaktree Capital Management Lp sold 2,825,000 shares of the business’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $8.50, for a total value of $24,012,500.00. Following the completion of the transaction, the insider now owns 7,797,000 shares of the company’s stock, valued at approximately $66,274,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Brookfield Asset Management In sold 2,135,176 shares of the company’s stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $24.09, for a total value of $51,436,389.84. Following the completion of the transaction, the insider now owns 13,281,712 shares of the company’s stock, valued at approximately $319,956,442.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 2,825,000 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $8.50, for a total value of $24,012,500.00. Following the completion of the transaction, the insider now directly owns 7,797,000 shares of the company’s stock, valued at approximately $66,274,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,960,176 shares of company stock worth $94,048,890.
Institutional Trading of Brookfield Asset Management
Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in shares of Brookfield Asset Management by 166.2% during the first quarter. Goldman Sachs Group Inc. now owns 7,051,145 shares of the financial services provider’s stock worth $398,883,000 after purchasing an additional 4,402,115 shares during the last quarter. FMR LLC grew its holdings in shares of Brookfield Asset Management by 23.4% during the second quarter. FMR LLC now owns 22,743,081 shares of the financial services provider’s stock worth $1,011,608,000 after purchasing an additional 4,315,285 shares during the last quarter. Select Equity Group L.P. purchased a new position in shares of Brookfield Asset Management during the first quarter worth about $200,315,000. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 5.6% during the second quarter. Principal Financial Group Inc. now owns 45,883,416 shares of the financial services provider’s stock worth $2,039,978,000 after buying an additional 2,452,878 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Brookfield Asset Management by 449.1% during the third quarter. Canada Pension Plan Investment Board now owns 2,170,780 shares of the financial services provider’s stock worth $89,277,000 after buying an additional 1,775,480 shares during the last quarter.
About Brookfield Asset Management
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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