Amundi Pioneer Asset Management Inc. purchased a new position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) in the 4th quarter, Holdings Channel reports. The firm purchased 413,067 shares of the financial services provider’s stock, valued at approximately $17,985,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Brookfield Asset Management by 3.9% during the third quarter. Envestnet Asset Management Inc. now owns 94,604 shares of the financial services provider’s stock worth $3,906,000 after purchasing an additional 3,518 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Brookfield Asset Management in the 3rd quarter valued at $598,000. Jane Street Group LLC purchased a new stake in Brookfield Asset Management in the 3rd quarter valued at $586,000. MUFG Securities EMEA plc grew its holdings in Brookfield Asset Management by 0.7% in the 3rd quarter. MUFG Securities EMEA plc now owns 656,734 shares of the financial services provider’s stock valued at $27,123,000 after buying an additional 4,418 shares in the last quarter. Finally, Davis Selected Advisers grew its holdings in Brookfield Asset Management by 1.0% in the 3rd quarter. Davis Selected Advisers now owns 717,049 shares of the financial services provider’s stock valued at $29,614,000 after buying an additional 6,940 shares in the last quarter. Hedge funds and other institutional investors own 55.72% of the company’s stock.
Several brokerages have issued reports on BAM. TheStreet cut Brookfield Asset Management from a “b-” rating to a “c+” rating in a report on Thursday, January 25th. Royal Bank of Canada upped their target price on Brookfield Asset Management from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, February 16th. TD Securities upped their target price on Brookfield Asset Management from $52.00 to $54.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Scotiabank upped their target price on Brookfield Asset Management from $45.50 to $48.50 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $48.33.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $1.13. Brookfield Asset Management had a return on equity of 2.02% and a net margin of 3.58%. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the prior year, the company posted $0.23 EPS. The company’s quarterly revenue was up 88.4% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Tuesday, February 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 47.24%.
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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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