Tandem Capital Management Corp ADV Has $6.54 Million Holdings in Brookfield Asset Management Inc. (NYSE:BAM)

Tandem Capital Management Corp ADV lifted its stake in Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,844 shares of the financial services provider’s stock after buying an additional 790 shares during the period. Brookfield Asset Management makes up approximately 4.5% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 2nd biggest position. Tandem Capital Management Corp ADV’s holdings in Brookfield Asset Management were worth $6,535,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. FIL Ltd boosted its stake in shares of Brookfield Asset Management by 13.9% in the fourth quarter. FIL Ltd now owns 31,841,182 shares of the financial services provider’s stock valued at $1,316,272,000 after buying an additional 3,891,999 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield Asset Management by 24.1% in the first quarter. The Manufacturers Life Insurance Company now owns 24,275,961 shares of the financial services provider’s stock valued at $1,357,027,000 after buying an additional 4,706,808 shares during the period. Bank of Nova Scotia lifted its stake in Brookfield Asset Management by 19.5% during the first quarter. Bank of Nova Scotia now owns 21,722,575 shares of the financial services provider’s stock worth $966,597,000 after purchasing an additional 3,540,699 shares during the last quarter. Norges Bank bought a new stake in Brookfield Asset Management during the fourth quarter worth $565,086,000. Finally, EdgePoint Investment Group Inc. lifted its stake in Brookfield Asset Management by 43.9% during the first quarter. EdgePoint Investment Group Inc. now owns 12,694,701 shares of the financial services provider’s stock worth $563,246,000 after purchasing an additional 3,870,544 shares during the last quarter. Institutional investors and hedge funds own 62.64% of the company’s stock.

BAM has been the subject of several recent analyst reports. Zacks Investment Research upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Monday, May 17th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. TD Securities upped their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock an “action list buy” rating in a research note on Friday, February 12th. Credit Suisse Group cut Brookfield Asset Management from an “outperform” rating to a “neutral” rating and upped their target price for the stock from $52.00 to $54.00 in a research note on Wednesday, March 31st. Finally, JPMorgan Chase & Co. dropped their price target on Brookfield Asset Management from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, March 22nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Brookfield Asset Management has a consensus rating of “Buy” and a consensus price target of $48.50.

NYSE BAM traded down $0.15 on Friday, reaching $49.73. The company had a trading volume of 75,695 shares, compared to its average volume of 2,567,536. The firm has a market cap of $78.45 billion, a price-to-earnings ratio of 59.38 and a beta of 1.26. Brookfield Asset Management Inc. has a fifty-two week low of $29.09 and a fifty-two week high of $50.75. The business has a 50 day moving average price of $47.14. The company has a current ratio of 1.07, a quick ratio of 0.90 and a debt-to-equity ratio of 1.15.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 12th. The financial services provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.33. The business had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $10.89 billion. Brookfield Asset Management had a return on equity of 1.22% and a net margin of 2.23%. Brookfield Asset Management’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Friday, May 28th will be issued a $0.13 dividend. The ex-dividend date is Thursday, May 27th. This represents a $0.52 dividend on an annualized basis and a yield of 1.05%. Brookfield Asset Management’s payout ratio is -200.00%.

Brookfield Asset Management Profile

Brookfield Asset Management is a leading global alternative asset manager and one of the largest investors in real assets. Our investment focus is on real estate, renewable power, infrastructure and private equity assets. Our objective is to generate attractive long-term risk-adjusted returns for the benefit of our clients and shareholders.

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

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