Brookfield Asset Management (NYSE:BAM) Releases Earnings Results, Beats Estimates By $0.11 EPS

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) issued its quarterly earnings results on Thursday. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.11, MarketWatch Earnings reports. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $18.35 billion. Brookfield Asset Management had a net margin of 5.24% and a return on equity of 3.21%. During the same quarter in the previous year, the business earned $1.80 earnings per share.

BAM opened at $47.71 on Friday. Brookfield Asset Management has a 1-year low of $44.13 and a 1-year high of $62.47. The company has a market cap of $78.31 billion, a P/E ratio of 19.63 and a beta of 1.31. The company has a fifty day moving average price of $53.50 and a two-hundred day moving average price of $56.03.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, May 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 23.05%.

A number of brokerages have recently commented on BAM. Zacks Investment Research upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Monday, May 9th. Credit Suisse Group upgraded shares of Brookfield Asset Management from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $68.00 to $71.50 in a report on Wednesday, April 27th. Royal Bank of Canada dropped their target price on shares of Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday. Citigroup boosted their target price on shares of Brookfield Asset Management from $61.00 to $65.50 in a report on Friday, February 11th. Finally, TD Securities boosted their target price on shares of Brookfield Asset Management from $75.00 to $77.00 and gave the company an “action list buy” rating in a report on Monday, February 7th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $66.10.

In other news, insider Brookfield Asset Management In sold 750,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $25.77, for a total transaction of $19,327,500.00. Following the completion of the sale, the insider now directly owns 18,538,903 shares of the company’s stock, valued at $477,747,530.31. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of the business’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $31.00, for a total transaction of $18,157,785.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,976,384 shares of company stock valued at $105,795,602.

Several large investors have recently bought and sold shares of BAM. Brookfield Asset Management Inc. bought a new stake in shares of Brookfield Asset Management during the third quarter worth about $6,974,274,000. Norges Bank bought a new stake in Brookfield Asset Management in the 4th quarter worth about $810,807,000. Viking Global Investors LP grew its position in Brookfield Asset Management by 311.2% in the 3rd quarter. Viking Global Investors LP now owns 16,987,106 shares of the financial services provider’s stock worth $908,980,000 after purchasing an additional 12,856,497 shares in the last quarter. FIL Ltd grew its position in Brookfield Asset Management by 30.0% in the 3rd quarter. FIL Ltd now owns 29,604,720 shares of the financial services provider’s stock worth $1,586,351,000 after purchasing an additional 6,829,447 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Brookfield Asset Management by 12.8% in the 1st quarter. Principal Financial Group Inc. now owns 43,430,538 shares of the financial services provider’s stock worth $2,456,964,000 after purchasing an additional 4,943,494 shares in the last quarter. 60.24% of the stock is owned by institutional investors.

About Brookfield Asset Management (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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Earnings History for Brookfield Asset Management (NYSE:BAM)

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