Parametric Portfolio Associates LLC raised its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 0.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 526,506 shares of the financial services provider’s stock after purchasing an additional 4,167 shares during the period. Parametric Portfolio Associates LLC’s holdings in Brookfield Asset Management were worth $27,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hoylecohen LLC acquired a new position in shares of Brookfield Asset Management in the third quarter valued at about $786,000. Ancora Advisors LLC raised its stake in Brookfield Asset Management by 122.3% in the 3rd quarter. Ancora Advisors LLC now owns 61,751 shares of the financial services provider’s stock worth $3,278,000 after purchasing an additional 33,968 shares in the last quarter. Stifel Financial Corp raised its stake in Brookfield Asset Management by 12.3% in the 3rd quarter. Stifel Financial Corp now owns 824,318 shares of the financial services provider’s stock worth $43,797,000 after purchasing an additional 90,220 shares in the last quarter. Shelter Mutual Insurance Co bought a new stake in Brookfield Asset Management in the 3rd quarter valued at about $2,290,000. Finally, Voya Financial Advisors Inc. bought a new stake in Brookfield Asset Management in the 3rd quarter valued at about $298,000. 60.36% of the stock is currently owned by hedge funds and other institutional investors.
BAM has been the topic of a number of analyst reports. Citigroup lowered shares of Brookfield Asset Management from a “buy” rating to a “neutral” rating in a research report on Monday, November 18th. ValuEngine downgraded shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. TD Securities boosted their price target on Brookfield Asset Management from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada increased their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Finally, BMO Capital Markets raised their price objective on Brookfield Asset Management from $55.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.58.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Thursday, November 14th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.11 by $0.80. The firm had revenue of $17.88 billion for the quarter, compared to analyst estimates of $13.92 billion. Brookfield Asset Management had a net margin of 5.82% and a return on equity of 3.95%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period last year, the firm earned $1.07 EPS.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.64 annualized dividend and a dividend yield of 1.12%.
Brookfield Asset Management 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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