Scotia Capital Inc. boosted its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,620,893 shares of the financial services provider’s stock after acquiring an additional 87,354 shares during the quarter. Brookfield Asset Management makes up approximately 1.1% of Scotia Capital Inc.’s portfolio, making the stock its 21st largest holding. Scotia Capital Inc. owned 0.14% of Brookfield Asset Management worth $63,489,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of BAM. QS Investors LLC raised its position in Brookfield Asset Management by 69.8% during the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 1,150 shares in the last quarter. Visionary Asset Management Inc. acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $201,000. HM Payson & Co. acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $203,000. Bronfman E.L. Rothschild L.P. grew its holdings in Brookfield Asset Management by 112.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,176 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 2,738 shares during the last quarter. Finally, Checchi Capital Advisers LLC acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $208,000. 53.73% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on BAM shares. Royal Bank Of Canada reiterated a “buy” rating and set a $42.00 price target on shares of Brookfield Asset Management in a report on Tuesday, June 20th. BidaskClub upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $45.00 price target on shares of Brookfield Asset Management in a report on Friday, July 14th. Scotiabank increased their price target on Brookfield Asset Management from $41.75 to $42.50 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, TD Securities increased their price target on Brookfield Asset Management from $47.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.92.
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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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.28). Brookfield Asset Management had a return on equity of 2.10% and a net margin of 4.87%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter in the prior year, the company earned $0.15 EPS. The company’s revenue for the quarter was up 58.1% on a year-over-year basis. Equities research analysts predict that Brookfield Asset Management Inc will post $0.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Tuesday, August 29th. Brookfield Asset Management’s dividend payout ratio is currently 43.75%.
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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