Dimensional Fund Advisors LP raised its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 18.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,924 shares of the financial services provider’s stock after acquiring an additional 2,507 shares during the period. Dimensional Fund Advisors LP’s holdings in Brookfield Asset Management were worth $581,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Group One Trading L.P. purchased a new stake in Brookfield Asset Management during the first quarter valued at about $186,000. Gould Asset Management LLC CA purchased a new stake in Brookfield Asset Management during the first quarter valued at about $213,000. Kings Point Capital Management grew its position in Brookfield Asset Management by 82.7% during the first quarter. Kings Point Capital Management now owns 6,275 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 2,840 shares during the period. M&T Bank Corp grew its position in Brookfield Asset Management by 6.9% during the first quarter. M&T Bank Corp now owns 8,290 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 535 shares during the period. Finally, KBC Group NV purchased a new stake in Brookfield Asset Management during the first quarter valued at about $358,000. 53.81% of the stock is owned by hedge funds and other institutional investors.
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Shares of Brookfield Asset Management Inc (NYSE:BAM) traded up 0.71% during mid-day trading on Friday, reaching $39.48. The company’s stock had a trading volume of 280,198 shares. The company has a 50 day moving average price of $38.99 and a 200 day moving average price of $37.95. The stock has a market capitalization of $37.85 billion, a P/E ratio of 30.63 and a beta of 1.03. Brookfield Asset Management Inc has a 12 month low of $32.04 and a 12 month high of $40.09.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $5.27 billion. Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The company’s revenue for the quarter was up 58.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, equities research analysts anticipate that Brookfield Asset Management Inc will post $1.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Asset Management’s payout ratio is 43.75%.
Brookfield Asset Management announced that its board has approved a share repurchase program on Friday, May 19th that authorizes the company to repurchase 82,960,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
Several equities research analysts have recently weighed in on the company. BidaskClub raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Citigroup Inc. upped their target price on Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a research report on Friday, August 11th. TD Securities upped their target price on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada upped their target price on Brookfield Asset Management from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.56.
Brookfield Asset Management 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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