Blue Fin Capital Inc. Invests $293,000 in Brookfield Asset Management Inc (NYSE:BAM)
Blue Fin Capital Inc. bought a new position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,480 shares of the financial services provider’s stock, valued at approximately $293,000.
Several other large investors have also made changes to their positions in the stock. Group One Trading L.P. acquired a new stake in shares of Brookfield Asset Management during the first quarter worth about $186,000. Visionary Asset Management Inc. acquired a new stake in shares of Brookfield Asset Management during the second quarter worth about $201,000. Gould Asset Management LLC CA acquired a new stake in shares of Brookfield Asset Management during the first quarter worth about $213,000. Fisher Asset Management LLC acquired a new stake in shares of Brookfield Asset Management during the first quarter worth about $215,000. Finally, Kings Point Capital Management boosted its stake in shares of Brookfield Asset Management by 82.7% in the first quarter. Kings Point Capital Management now owns 6,275 shares of the financial services provider’s stock worth $229,000 after buying an additional 2,840 shares during the last quarter. 53.95% of the stock is owned by institutional investors.
Shares of Brookfield Asset Management Inc (NYSE BAM) opened at 38.24 on Friday. Brookfield Asset Management Inc has a 52-week low of $32.04 and a 52-week high of $40.09. The company has a market cap of $43.02 billion, a PE ratio of 35.77 and a beta of 1.03. The company’s 50-day moving average is $39.06 and its 200 day moving average is $37.41.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.28. Brookfield Asset Management had a return on equity of 2.14% and a net margin of 4.87%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same period last year, the business posted $0.15 EPS. The company’s revenue was up 58.1% compared to the same quarter last year. On average, analysts anticipate that Brookfield Asset Management Inc will post $0.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 43.75%.
Brookfield Asset Management declared that its board has authorized a share buyback plan on Friday, May 19th that authorizes the company to buyback 82,960,000 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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A number of brokerages have recently issued reports on BAM. TD Securities reissued a “buy” rating on shares of Brookfield Asset Management in a research report on Saturday, May 13th. Royal Bank Of Canada boosted their target price on shares of Brookfield Asset Management from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday. Scotiabank boosted their target price on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the company an “outperform” rating in a research report on Wednesday. Canaccord Genuity reissued a “buy” rating and issued a $42.00 target price on shares of Brookfield Asset Management in a research report on Friday. Finally, BidaskClub cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Brookfield Asset Management presently has a consensus rating of “Buy” and a consensus price target of $42.44.
Brookfield Asset Management Company 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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