Brookfield Asset Management Inc (BAM) Holdings Lifted by Paloma Partners Management Co
Paloma Partners Management Co boosted its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 192.2% during the 4th quarter, HoldingsChannel reports. The fund owned 57,500 shares of the financial services provider’s stock after purchasing an additional 37,823 shares during the period. Paloma Partners Management Co’s holdings in Brookfield Asset Management were worth $2,503,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of BAM. First Personal Financial Services bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $107,000. Calton & Associates Inc. bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $118,000. Moors & Cabot Inc. bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $209,000. Palladium Partners LLC bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $224,000. Finally, Arthur M. Cohen & Associates LLC bought a new stake in shares of Brookfield Asset Management in the fourth quarter valued at about $243,000. Hedge funds and other institutional investors own 55.72% of the company’s stock.
A number of brokerages have recently commented on BAM. TheStreet lowered Brookfield Asset Management from a “b-” rating to a “c+” rating in a report on Thursday, January 25th. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. TD Securities lifted their target price on Brookfield Asset Management from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Scotiabank set a $49.00 target price on Brookfield Asset Management and gave the company a “buy” rating in a research report on Saturday, February 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Brookfield Asset Management presently has a consensus rating of “Buy” and an average target price of $48.33.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $1.13. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $5.31 billion. Brookfield Asset Management had a return on equity of 2.02% and a net margin of 3.58%. The business’s revenue was up 88.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Tuesday, February 27th. Brookfield Asset Management’s dividend payout ratio is presently 45.11%.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2018/03/14/brookfield-asset-management-inc-bam-holdings-lifted-by-paloma-partners-management-co.html.
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.
Want to see what other hedge funds are holding BAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A).
Receive News & Ratings for Brookfield Asset Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management and related companies with MarketBeat.com's FREE daily email newsletter.