Skba Capital Management LLC held its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,625 shares of the financial services provider’s stock at the close of the second quarter. Skba Capital Management LLC’s holdings in Brookfield Asset Management were worth $299,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. grew its stake in shares of Brookfield Asset Management by 24.4% during the second quarter. Alliancebernstein L.P. now owns 106,823 shares of the financial services provider’s stock valued at $4,189,000 after buying an additional 20,967 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Brookfield Asset Management by 2.4% during the second quarter. Wells Fargo & Company MN now owns 1,123,016 shares of the financial services provider’s stock valued at $44,034,000 after buying an additional 26,539 shares during the last quarter. Mcdonald Capital Investors Inc. CA bought a new position in shares of Brookfield Asset Management during the second quarter valued at approximately $35,621,000. D L Carlson Investment Group Inc. bought a new position in Brookfield Asset Management in the second quarter worth approximately $1,559,000. Finally, Synovus Financial Corp grew its stake in Brookfield Asset Management by 22.1% in the second quarter. Synovus Financial Corp now owns 42,091 shares of the financial services provider’s stock worth $1,654,000 after purchasing an additional 7,615 shares in the last quarter. 53.81% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on BAM shares. Citigroup Inc. increased their price objective on Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Canaccord Genuity reissued a “buy” rating and issued a $42.00 price objective on shares of Brookfield Asset Management in a research note on Friday, August 11th. TD Securities increased their price objective on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. BidaskClub raised Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $42.00 target price on shares of Brookfield Asset Management in a research report on Tuesday, June 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $43.56.
Shares of Brookfield Asset Management Inc (BAM) traded up 0.43% during mid-day trading on Friday, hitting $39.37. The stock had a trading volume of 152,394 shares. The firm has a market cap of $37.75 billion, a PE ratio of 30.54 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. The stock’s 50-day moving average is $38.99 and its 200 day moving average is $37.95.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings data on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.28). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $5.27 billion. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The company’s revenue for the quarter was up 58.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. Equities research analysts predict that Brookfield Asset Management Inc will post $1.18 earnings per share for the current fiscal year.
Brookfield Asset Management announced that its board has approved a share repurchase program on Friday, May 19th that authorizes the company to buyback 82,960,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.43%. Brookfield Asset Management’s dividend payout ratio is presently 43.75%.
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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