Fort Washington Investment Advisors Inc. OH Boosts Holdings in Brookfield Asset Management Inc (BAM)
Fort Washington Investment Advisors Inc. OH boosted its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 76.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 200,831 shares of the financial services provider’s stock after buying an additional 86,695 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Brookfield Asset Management were worth $7,875,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of BAM. Partners Value Investments LP acquired a new position in Brookfield Asset Management during the 1st quarter worth $222,335,000. CIBC Asset Management Inc lifted its holdings in Brookfield Asset Management by 58.7% during the 2nd quarter. CIBC Asset Management Inc now owns 9,445,056 shares of the financial services provider’s stock worth $370,221,000 after buying an additional 3,491,780 shares in the last quarter. Cooke & Bieler LP acquired a new position in Brookfield Asset Management during the 1st quarter worth $76,545,000. Canada Pension Plan Investment Board lifted its holdings in Brookfield Asset Management by 212.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,758,937 shares of the financial services provider’s stock worth $108,110,000 after buying an additional 1,874,577 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Brookfield Asset Management by 47.0% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 5,435,723 shares of the financial services provider’s stock worth $198,186,000 after buying an additional 1,738,408 shares in the last quarter. 53.81% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Brookfield Asset Management Inc (NYSE BAM) traded down 0.55% during mid-day trading on Wednesday, hitting $39.44. 207,944 shares of the company’s stock traded hands. The firm has a 50-day moving average of $38.99 and a 200 day moving average of $37.91. The company has a market cap of $37.81 billion, a PE ratio of 30.60 and a beta of 1.03. Brookfield Asset Management Inc has a 52 week low of $32.04 and a 52 week high of $40.09.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). Brookfield Asset Management had a net margin of 4.87% and a return on equity of 2.10%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same quarter in the prior year, the business earned $0.15 EPS. The business’s quarterly revenue was up 58.1% on a year-over-year basis. Equities research analysts predict that Brookfield Asset Management Inc will post $1.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.41%. Brookfield Asset Management’s dividend payout ratio is currently 43.75%.
Brookfield Asset Management declared that its Board of Directors has approved a share repurchase program on Friday, May 19th that allows the company to buyback 82,960,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several research firms have issued reports on BAM. Scotiabank upped their price objective on Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. TD Securities upped their price objective on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $42.00 price objective on shares of Brookfield Asset Management in a report on Friday, August 11th. Citigroup Inc. upped their price objective on Brookfield Asset Management from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, BidaskClub upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $43.56.
Brookfield Asset Management 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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