CIBC Asset Management Inc Has $428.36 Million Position in Brookfield Asset Management Inc (BAM)
CIBC Asset Management Inc increased its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) by 10.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,401,769 shares of the company’s stock after acquiring an additional 956,713 shares during the period. Brookfield Asset Management comprises 2.7% of CIBC Asset Management Inc’s holdings, making the stock its 12th largest position. CIBC Asset Management Inc owned approximately 1.05% of Brookfield Asset Management worth $428,356,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of BAM. FMR LLC grew its holdings in Brookfield Asset Management by 18.9% during the second quarter. FMR LLC now owns 25,066,960 shares of the company’s stock worth $983,697,000 after acquiring an additional 3,980,816 shares during the period. Canada Pension Plan Investment Board grew its holdings in Brookfield Asset Management by 212.0% in the second quarter. Canada Pension Plan Investment Board now owns 2,758,937 shares of the company’s stock valued at $108,110,000 after purchasing an additional 1,874,577 shares during the period. Russell Investments Group Ltd. grew its holdings in Brookfield Asset Management by 306.2% in the second quarter. Russell Investments Group Ltd. now owns 2,220,656 shares of the company’s stock valued at $86,913,000 after purchasing an additional 1,673,944 shares during the period. Mcdonald Capital Investors Inc. CA acquired a new stake in Brookfield Asset Management in the second quarter valued at approximately $35,621,000. Finally, Alps Advisors Inc. acquired a new stake in Brookfield Asset Management in the second quarter valued at approximately $32,066,000. 52.06% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Asset Management Inc (NYSE:BAM) traded down $0.02 during midday trading on Monday, hitting $42.02. The stock had a trading volume of 603,800 shares, compared to its average volume of 879,280. The stock has a market capitalization of $41,610.00, a P/E ratio of 93.38 and a beta of 1.06. Brookfield Asset Management Inc has a 1-year low of $32.04 and a 1-year high of $43.15. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.01 and a current ratio of 1.29.
Brookfield Asset Management (NYSE:BAM) last released its earnings results on Thursday, August 10th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.28). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. Brookfield Asset Management had a net margin of 1.70% and a return on equity of 0.86%. The business’s revenue was up 58.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, November 29th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.14. Brookfield Asset Management’s dividend payout ratio (DPR) is 121.74%.
BAM has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $42.00 price objective on shares of Brookfield Asset Management in a report on Thursday, July 27th. Scotiabank raised their price objective on Brookfield Asset Management from $42.75 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, October 11th. ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Citigroup Inc. raised their price objective on Brookfield Asset Management from $45.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, BidaskClub raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.00.
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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