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First Pacific Financial Has $504,000 Stock Holdings in Brookfield Asset Management Inc. (NYSE:BAM)

Financial News Live · Sep 29, 2022 14:02

First Pacific Financial increased its position in shares of Brookfield Asset Management Inc. (NYSE:BAM – Get Rating) (TSE:BAM.A) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,344 shares of the financial services provider's stock after acquiring an additional 403 shares during the period. First Pacific Financial's holdings in Brookfield Asset Management were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV raised its stake in shares of Brookfield Asset Management by 46.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 636 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. HB Wealth Management LLC raised its position in Brookfield Asset Management by 2.3% in the second quarter. HB Wealth Management LLC now owns 10,486 shares of the financial services provider's stock worth $466,000 after acquiring an additional 240 shares during the period. Value Partners Investments Inc. raised its position in Brookfield Asset Management by 2.8% in the second quarter. Value Partners Investments Inc. now owns 8,811 shares of the financial services provider's stock worth $391,000 after acquiring an additional 240 shares during the period. Bard Financial Services Inc. raised its position in Brookfield Asset Management by 4.8% in the second quarter. Bard Financial Services Inc. now owns 5,445 shares of the financial services provider's stock worth $242,000 after acquiring an additional 250 shares during the period. Finally, Blue Fin Capital Inc. raised its position in shares of Brookfield Asset Management by 0.3% in the first 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 period. Institutional investors own 59.54% of the company's stock.

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Insider Transactions at Brookfield Asset Management

In related news, major shareholder Opps Tpic Holdings, Llc sold 3,963,416 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $18.85, for a total value of $74,710,391.60. Following the completion of the transaction, the insider now directly owns 12,263 shares of the company's stock, valued at approximately $231,157.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

BAM has been the subject of several recent analyst reports. TD Securities boosted their price objective on shares of Brookfield Asset Management from $72.00 to $73.00 and gave the company an "action list buy" rating in a research note on Thursday, September 15th. StockNews.com lowered shares of Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Monday, September 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Brookfield Asset Management from $57.00 to $52.00 in a report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Brookfield Asset Management has an average rating of "Moderate Buy" and an average target price of $66.50.

Brookfield Asset Management Price Performance

Shares of BAM stock traded down $1.93 on Thursday, reaching $40.36. The company's stock had a trading volume of 40,205 shares, compared to its average volume of 1,455,609. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 1.44. The stock's fifty day simple moving average is $49.08 and its 200-day simple moving average is $49.62. The company has a market capitalization of $66.26 billion, a price-to-earnings ratio of 18.55 and a beta of 1.31. Brookfield Asset Management Inc. has a 1 year low of $41.38 and a 1 year high of $62.47.

Brookfield Asset Management (NYSE:BAM – Get Rating) (TSE:BAM.A) last released its quarterly earnings data on Thursday, August 11th. The financial services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.39). The firm had revenue of $23.26 billion during the quarter, compared to the consensus estimate of $19.42 billion. Brookfield Asset Management had a net margin of 4.48% and a return on equity of 3.02%. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Analysts forecast that Brookfield Asset Management Inc. will post 3.19 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, August 31st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, August 30th. Brookfield Asset Management's payout ratio is presently 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 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.