Allianz Asset Management GmbH acquired a new position in shares of Brookfield Asset Management Inc. (NYSE: BAM – Get Rating) (TSE: BAM.A) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,048 shares of the financial services provider’s stock, valued at approximately $ 1,212,000.
A number of other hedge funds have also made changes to their positions in the stock. Brookfield Asset Management Inc. acquired a new position in Brookfield Asset Management during the third quarter worth $ 6,974,274,000. FIL Ltd grew its holdings in Brookfield Asset Management by 30.0% in the third quarter. FIL Ltd now owns 29,604,720 shares of the financial services provider’s stock valued at $ 1,586,351,000 after purchasing an additional 6,829,447 shares during the last quarter. Capital World Investors grew its holdings in Brookfield Asset Management by 1.6% in the third quarter. Capital World Investors now owns 19,325,990 shares of the financial services provider’s stock valued at $ 1,034,226,000 after purchasing an additional 295,092 shares during the last quarter. Viking Global Investors LP grew its holdings in Brookfield Asset Management by 311.2% in the third quarter. Viking Global Investors LP now owns 16,987,106 shares of the financial services provider’s stock valued at $ 908,980,000 after purchasing an additional 12,856,497 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Brookfield Asset Management by 0.3% in the fourth quarter. Toronto Dominion Bank now owns 9,745,444 shares of the financial services provider’s stock valued at $ 588,482,000 after purchasing an additional 26,368 shares during the last quarter. 60.24% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BAM opened at $ 49.98 on Thursday. The business’s 50-day moving average price is $ 51.96 and its 200 day moving average price is $ 54.93. Brookfield Asset Management Inc. has a twelve month low of $ 44.13 and a twelve month high of $ 62.47. The company has a market capitalization of $ 82.04 billion, a PE ratio of 20.57 and a beta of 1.31. The company has a current ratio of 1.17, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31.
Brookfield Asset Management (NYSE: BAM – Get Rating) (TSE: BAM.A) last released its earnings results on Thursday, May 12th. The financial services provider reported $ 0.81 earnings per share for the quarter, topping the estimate consensus of $ 0.70 by $ 0.11. The firm had revenue of $ 21.88 billion for the quarter, compared to the estimate consensus of $ 18.35 billion. Brookfield Asset Management had a return on equity of 3.25% and a net margin of 5.04%. During the same period in the prior year, the business posted $ 1.80 earnings per share. Equities analysts predict that Brookfield Asset Management Inc. will post 3.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Tuesday, May 31st will be issued a $ 0.14 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $ 0.56 dividend on an annualized basis and a dividend yield of 1.12%. Brookfield Asset Management’s dividend payout ratio (DPR) is 23.05%.
In other news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $ 31.00, for a total value of $ 18,157,785.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Oaktree Capital Management Lp sold 254,754 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $ 11.32, for a total value of $ 2,883,815.28. Following the completion of the transaction, the insider now owns 12,227,043 shares in the company, valued at $ 138,410,126.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,395,053 shares of company stock worth $ 110,539,853.
Several research firms have weighed in on BAM. Zacks Investment Research raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Deutsche Bank Aktiengesellschaft lowered their target price on Brookfield Asset Management from $ 60.00 to $ 57.00 in a report on Thursday, May 19th. TD Securities upped their price target on Brookfield Asset Management from $ 75.00 to $ 77.00 and gave the company an “action list buy” rating in a research report on Monday, February 7th. Credit Suisse Group upgraded Brookfield Asset Management from a “neutral” rating to an “outperform” rating and upped their price target for the company from $ 68.00 to $ 71.50 in a research report on Wednesday, April 27th. Finally, Royal Bank of Canada reduced their price target on Brookfield Asset Management from $ 72.00 to $ 68.00 and set an “outperform” rating on the stock in a research report on Friday, May 20th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company stock. According to MarketBeat.com, Brookfield Asset Management has an average rating of “Buy” and an average price target of $ 65.80.
About Brookfield Asset Management: (Get Rating)
Brookfield Asset Management is an alternative asset manager and REIT / Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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