Envestnet Asset Management Inc. boosted its stake in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 12.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 138,995 shares of the financial services provider’s stock after buying an additional 15,190 shares during the period. Envestnet Asset Management Inc.’s holdings in Brookfield Asset Management were worth $6,484,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP raised its holdings in Brookfield Asset Management by 6.3% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 50,900 shares of the financial services provider’s stock valued at $1,951,000 after buying an additional 3,000 shares during the period. Jane Street Group LLC raised its holdings in Brookfield Asset Management by 22.6% during the 4th quarter. Jane Street Group LLC now owns 33,360 shares of the financial services provider’s stock valued at $1,279,000 after buying an additional 6,145 shares during the period. YorkBridge Wealth Partners LLC raised its holdings in Brookfield Asset Management by 116.0% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 838 shares of the financial services provider’s stock valued at $32,000 after buying an additional 450 shares during the period. Madison Investment Holdings Inc. raised its holdings in Brookfield Asset Management by 1.6% during the 4th quarter. Madison Investment Holdings Inc. now owns 2,369,446 shares of the financial services provider’s stock valued at $90,868,000 after buying an additional 37,237 shares during the period. Finally, Waratah Capital Advisors Ltd. purchased a new stake in Brookfield Asset Management during the 1st quarter valued at $2,947,000. Institutional investors own 61.45% of the company’s stock.
Several analysts recently weighed in on BAM shares. TD Securities increased their price target on Brookfield Asset Management from $57.00 to $62.00 and gave the company a “buy” rating in a report on Friday, February 15th. BMO Capital Markets restated a “buy” rating on shares of Brookfield Asset Management in a report on Friday, April 5th. Finally, Royal Bank of Canada upped their price objective on Brookfield Asset Management from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, February 19th. Six research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $52.92.
Shares of Brookfield Asset Management stock opened at $47.35 on Thursday. The firm has a market capitalization of $47.14 billion, a price-to-earnings ratio of 14.91 and a beta of 1.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. Brookfield Asset Management Inc has a 52 week low of $36.58 and a 52 week high of $48.43.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, May 9th. The financial services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The company had revenue of $15.21 billion for the quarter, compared to the consensus estimate of $12.35 billion. Brookfield Asset Management had a return on equity of 3.86% and a net margin of 5.63%. During the same quarter in the prior year, the company posted $1.16 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.35%. The ex-dividend date is Thursday, May 30th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.15.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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