Brookfield Asset Management Inc (BAM) Position Maintained by Southeast Asset Advisors Inc.
Southeast Asset Advisors Inc. continued to hold its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,637 shares of the financial services provider’s stock at the end of the 2nd quarter. Southeast Asset Advisors Inc.’s holdings in Brookfield Asset Management were worth $770,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. FMR LLC raised its holdings in Brookfield Asset Management by 18.9% during the second quarter. FMR LLC now owns 25,066,960 shares of the financial services provider’s stock worth $983,697,000 after purchasing an additional 3,980,816 shares in the last quarter. CIBC Asset Management Inc lifted its position in Brookfield Asset Management by 58.7% in the second quarter. CIBC Asset Management Inc now owns 9,445,056 shares of the financial services provider’s stock valued at $370,221,000 after purchasing an additional 3,491,780 shares during the period. Canada Pension Plan Investment Board lifted its position in Brookfield Asset Management by 212.0% in the second quarter. Canada Pension Plan Investment Board now owns 2,758,937 shares of the financial services provider’s stock valued at $108,110,000 after purchasing an additional 1,874,577 shares during the period. Russell Investments Group Ltd. lifted its position in Brookfield Asset Management by 306.2% in the second quarter. Russell Investments Group Ltd. now owns 2,220,656 shares of the financial services provider’s stock valued at $86,913,000 after purchasing an additional 1,673,944 shares during the period. Finally, Mcdonald Capital Investors Inc. CA purchased a new stake in Brookfield Asset Management in the 2nd quarter valued at approximately $35,621,000. 53.73% of the stock is currently owned by institutional investors and hedge funds.
Brookfield Asset Management Inc (NYSE BAM) traded up 0.86% during midday trading on Wednesday, hitting $42.15. 343,652 shares of the company traded hands. Brookfield Asset Management Inc has a 12-month low of $32.04 and a 12-month high of $42.29. The stock has a 50 day moving average of $39.73 and a 200 day moving average of $38.39. The stock has a market cap of $40.41 billion, a P/E ratio of 32.70 and a beta of 1.04.
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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $5.27 billion. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 58.1% compared to the same quarter last year. Equities research analysts predict that Brookfield Asset Management Inc will post $1.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 31st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio is presently 43.75%.
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Several equities analysts have issued reports on BAM shares. Scotiabank boosted their target price on Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. TD Securities lifted their price target on Brookfield Asset Management from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 11th. Canaccord Genuity restated a “buy” rating and issued a $47.00 price target on shares of Brookfield Asset Management in a research note on Monday. ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Saturday. Finally, 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 report on Tuesday, August 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $44.50.
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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