AMP Capital Investors Ltd cut its stake in Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,402 shares of the financial services provider’s stock after selling 19,975 shares during the period. AMP Capital Investors Ltd’s holdings in Brookfield Asset Management were worth $10,368,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the business. Mackenzie Financial Corp boosted its position in shares of Brookfield Asset Management by 30.6% during the 4th quarter. Mackenzie Financial Corp now owns 14,712,354 shares of the financial services provider’s stock valued at $640,576,000 after purchasing an additional 3,444,469 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Brookfield Asset Management by 19.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 12,436,990 shares of the financial services provider’s stock valued at $541,506,000 after buying an additional 2,049,509 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Brookfield Asset Management by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 10,665,101 shares of the financial services provider’s stock valued at $466,222,000 after buying an additional 263,332 shares in the last quarter. Mawer Investment Management Ltd. lifted its position in shares of Brookfield Asset Management by 0.3% in the third quarter. Mawer Investment Management Ltd. now owns 9,139,569 shares of the financial services provider’s stock worth $377,468,000 after purchasing an additional 24,053 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Brookfield Asset Management by 8.6% in the third quarter. Great West Life Assurance Co. Can now owns 8,919,066 shares of the financial services provider’s stock worth $366,421,000 after purchasing an additional 707,574 shares in the last quarter. 55.32% of the stock is currently owned by institutional investors.
BAM has been the topic of a number of research reports. TheStreet downgraded Brookfield Asset Management from a “b-” rating to a “c+” rating in a report on Thursday, January 25th. Royal Bank of Canada raised their price objective on shares of Brookfield Asset Management from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. TD Securities raised their target price on Brookfield Asset Management from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Scotiabank lifted their price target on Brookfield Asset Management from $45.50 to $48.50 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.33.
Shares of Brookfield Asset Management stock opened at $39.94 on Thursday. Brookfield Asset Management has a 12 month low of $35.30 and a 12 month high of $44.33. The company has a market capitalization of $37,914.54, a P/E ratio of 30.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.19 and a quick ratio of 0.94.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $1.13. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Brookfield Asset Management had a return on equity of 2.02% and a net margin of 3.58%. The business’s revenue was up 88.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, February 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Tuesday, February 27th. Brookfield Asset Management’s dividend payout ratio is 45.11%.
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Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing master planned residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services.
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