Verition Fund Management LLC bought a new stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,693 shares of the financial services provider’s stock, valued at approximately $498,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in shares of Brookfield Asset Management by 18.9% in the 2nd quarter. FMR LLC now owns 25,066,960 shares of the financial services provider’s stock valued at $983,697,000 after purchasing an additional 3,980,816 shares during the period. TD Asset Management Inc. grew its stake in shares of Brookfield Asset Management by 2.4% in the 2nd quarter. TD Asset Management Inc. now owns 21,728,082 shares of the financial services provider’s stock valued at $851,423,000 after buying an additional 518,648 shares in the last quarter. First Manhattan Co. boosted its position in Brookfield Asset Management by 2.3% during the second quarter. First Manhattan Co. now owns 16,439,611 shares of the financial services provider’s stock worth $644,597,000 after purchasing an additional 363,367 shares during the period. CIBC Asset Management Inc boosted its position in Brookfield Asset Management by 58.7% during the second quarter. CIBC Asset Management Inc now owns 9,445,056 shares of the financial services provider’s stock worth $370,221,000 after purchasing an additional 3,491,780 shares during the period. Finally, Mawer Investment Management Ltd. boosted its position in Brookfield Asset Management by 1.7% during the second quarter. Mawer Investment Management Ltd. now owns 9,115,516 shares of the financial services provider’s stock worth $357,622,000 after purchasing an additional 153,125 shares during the period. Institutional investors own 52.21% of the company’s stock.
Several research firms have recently weighed in on BAM. BidaskClub cut Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Royal Bank Of Canada restated an “outperform” rating on shares of Brookfield Asset Management in a research note on Thursday, September 28th. Scotiabank upped their target price on Brookfield Asset Management from $42.75 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, October 11th. Canaccord Genuity reiterated a “buy” rating and set a $47.00 price objective on shares of Brookfield Asset Management in a research note on Monday, October 2nd. Finally, ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Brookfield Asset Management has a consensus rating of “Buy” and a consensus target price of $48.17.
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Shares of Brookfield Asset Management Inc (BAM) traded up 0.63% during trading on Friday, reaching $41.81. The company’s stock had a trading volume of 778,810 shares. The firm has a market cap of $40.08 billion, a PE ratio of 32.44 and a beta of 1.04. Brookfield Asset Management Inc has a 12 month low of $32.04 and a 12 month high of $43.15. The company’s 50 day moving average price is $41.16 and its 200 day moving average price is $39.08.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.28). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The firm’s quarterly revenue was up 58.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, equities analysts predict that Brookfield Asset Management Inc will post $0.84 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 31st were issued a $0.14 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.34%. Brookfield Asset Management’s dividend payout ratio is currently 43.75%.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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