Greystone Investment Management LLC Reduces Stake in Brookfield Asset Management Inc. (BAM)
Greystone Investment Management LLC lowered its position in Brookfield Asset Management Inc. (NYSE:BAM) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 461,034 shares of the company’s stock after selling 19,422 shares during the period. Brookfield Asset Management makes up approximately 6.9% of Greystone Investment Management LLC’s investment portfolio, making the stock its largest position. Greystone Investment Management LLC’s holdings in Brookfield Asset Management were worth $15,214,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Brookfield Asset Management during the second quarter worth about $1,134,262,000. First Manhattan Co. increased its position in Brookfield Asset Management by 0.7% in the second quarter. First Manhattan Co. now owns 17,662,333 shares of the company’s stock valued at $584,093,000 after buying an additional 124,326 shares during the period. Beutel Goodman & Co Ltd. increased its position in Brookfield Asset Management by 1.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 15,614,316 shares of the company’s stock valued at $512,996,000 after buying an additional 204,743 shares during the period. CIBC World Markets Inc. increased its position in Brookfield Asset Management by 25.7% in the second quarter. CIBC World Markets Inc. now owns 14,974,038 shares of the company’s stock valued at $495,191,000 after buying an additional 3,065,448 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Brookfield Asset Management by 0.5% in the first quarter. 1832 Asset Management L.P. now owns 7,692,954 shares of the company’s stock valued at $431,689,000 after buying an additional 37,308 shares during the period. Institutional investors own 53.31% of the company’s stock.
Brookfield Asset Management Inc. (NYSE:BAM) traded up 1.14% during midday trading on Wednesday, reaching $35.47. The company’s stock had a trading volume of 1,017,333 shares. Brookfield Asset Management Inc. has a 52 week low of $25.72 and a 52 week high of $35.63. The stock has a market capitalization of $34.02 billion, a PE ratio of 27.43 and a beta of 0.97. The firm’s 50-day moving average price is $34.13 and its 200-day moving average price is $33.86.
Brookfield Asset Management (NYSE:BAM) last issued its earnings results on Friday, August 12th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.39. The company earned $5.97 billion during the quarter, compared to analyst estimates of $4.78 billion. Brookfield Asset Management had a net margin of 6.47% and a return on equity of 2.54%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, analysts anticipate that Brookfield Asset Management Inc. will post $0.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 39.39%.
Several research firms have recently weighed in on BAM. BMO Capital Markets restated an “outperform” rating and issued a $42.00 target price (up previously from $40.00) on shares of Brookfield Asset Management in a research report on Monday. Royal Bank Of Canada upgraded Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 target price on the stock in a research report on Thursday, September 22nd. RBC Capital Markets raised Brookfield Asset Management from an “outperform” rating to a “top pick” rating and set a $41.00 price target for the company in a report on Wednesday, September 21st. They noted that the move was a valuation call. TheStreet cut Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Monday, September 19th. Finally, Credit Suisse Group AG set a $36.00 price target on Brookfield Asset Management and gave the company a “hold” rating in a report on Monday, August 22nd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.07.
Brookfield Asset Management Company 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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