Mraz Amerine & Associates Inc. held its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,130 shares of the financial services provider’s stock at the end of the second quarter. Mraz Amerine & Associates Inc.’s holdings in Brookfield Asset Management were worth $1,103,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Barometer Capital Management Inc. raised its position in shares of Brookfield Asset Management by 2,063.5% in the second quarter. Barometer Capital Management Inc. now owns 506,258 shares of the financial services provider’s stock worth $19,850,000 after buying an additional 482,858 shares during the period. OMERS ADMINISTRATION Corp increased its stake in Brookfield Asset Management by 47.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 5,435,723 shares of the financial services provider’s stock worth $198,186,000 after buying an additional 1,738,408 shares in the last quarter. Fenimore Asset Management Inc. increased its stake in Brookfield Asset Management by 0.9% in the first quarter. Fenimore Asset Management Inc. now owns 2,010,079 shares of the financial services provider’s stock worth $73,287,000 after buying an additional 17,044 shares in the last quarter. Signaturefd LLC increased its stake in Brookfield Asset Management by 0.5% in the first quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock worth $364,000 after buying an additional 45 shares in the last quarter. Finally, Moon Capital Management LLC increased its stake in Brookfield Asset Management by 24.4% in the first quarter. Moon Capital Management LLC now owns 112,142 shares of the financial services provider’s stock worth $4,089,000 after buying an additional 21,995 shares in the last quarter. 53.96% of the stock is owned by institutional investors and hedge funds.
Brookfield Asset Management Inc (BAM) opened at 39.13 on Friday. Brookfield Asset Management Inc has a 52 week low of $32.04 and a 52 week high of $40.09. The company’s 50 day moving average price is $38.99 and its 200-day moving average price is $37.56. The company has a market capitalization of $37.52 billion, a P/E ratio of 30.36 and a beta of 1.03.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.28. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The firm’s revenue was up 58.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. Equities research analysts expect that Brookfield Asset Management Inc will post $1.08 earnings per share for the current year.
Brookfield Asset Management announced that its Board of Directors has approved a stock repurchase plan on Friday, May 19th that allows the company to repurchase 82,960,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed 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 annualized dividend and a yield of 1.43%. The ex-dividend date is Tuesday, August 29th. Brookfield Asset Management’s payout ratio is currently 43.75%.
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A number of equities research analysts have issued reports on BAM shares. Royal Bank Of Canada boosted their price target on Brookfield Asset Management from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, May 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $45.00 price target on shares of Brookfield Asset Management in a research note on Friday, May 12th. TD Securities restated a “buy” rating on shares of Brookfield Asset Management in a research note on Saturday, May 13th. ValuEngine downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus 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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