Fiera Capital Corp reduced its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,110,973 shares of the financial services provider’s stock after selling 212,028 shares during the period. Fiera Capital Corp owned 0.53% of Brookfield Asset Management worth $200,095,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BAM. Partners Value Investments LP bought a new position in shares of Brookfield Asset Management in the 1st quarter worth $222,335,000. CIBC Asset Management Inc boosted its position in shares of Brookfield Asset Management by 58.7% in the 2nd 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 last quarter. Cooke & Bieler LP bought a new position in shares of Brookfield Asset Management in the 1st quarter worth $76,545,000. Canada Pension Plan Investment Board boosted its position in shares of Brookfield Asset Management by 212.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,758,937 shares of the financial services provider’s stock worth $108,110,000 after purchasing an additional 1,874,577 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Brookfield Asset Management by 47.0% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,435,723 shares of the financial services provider’s stock worth $198,186,000 after purchasing an additional 1,738,408 shares during the last quarter. Institutional investors and hedge funds own 53.81% of the company’s stock.
Brookfield Asset Management Inc (NYSE BAM) traded up 0.28% on Tuesday, reaching $39.72. The company’s stock had a trading volume of 248,061 shares. Brookfield Asset Management Inc has a 12 month low of $32.04 and a 12 month high of $40.09. The company has a market cap of $38.08 billion, a P/E ratio of 30.81 and a beta of 1.03. The stock’s 50 day moving average price is $38.97 and its 200 day moving average price is $37.90.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.28). The firm had revenue of $9.44 billion for 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 business’s revenue was up 58.1% compared to the same quarter last year. During the same period last year, the company posted $0.15 EPS. Equities research analysts forecast that Brookfield Asset Management Inc will post $1.18 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.41%. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 43.75%.
Brookfield Asset Management declared that its board has initiated a share buyback 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 reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
BAM has been the topic of several recent research reports. BidaskClub upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $42.00 target price on shares of Brookfield Asset Management in a report on Tuesday, June 20th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $45.00 target price on shares of Brookfield Asset Management in a report on Friday, July 14th. Finally, Citigroup Inc. lifted their target price on Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Brookfield Asset Management has an average rating of “Buy” and a consensus target price of $43.56.
About Brookfield Asset Management
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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