Burgundy Asset Management Ltd. boosted its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 34.9% during the fourth quarter, Holdings Channel reports. The fund owned 6,984,887 shares of the company’s stock after buying an additional 1,806,266 shares during the period. Brookfield Asset Management accounts for about 2.2% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 14th largest position. Burgundy Asset Management Ltd. owned 0.73% of Brookfield Asset Management worth $230,455,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its position in shares of Brookfield Asset Management by 2.9% in the third quarter. Fisher Asset Management LLC now owns 6,243 shares of the company’s stock worth $220,000 after buying an additional 176 shares during the last quarter. Essex Financial Services Inc. increased its stake in Brookfield Asset Management by 1.2% in the fourth quarter. Essex Financial Services Inc. now owns 16,391 shares of the company’s stock worth $541,000 after buying an additional 189 shares during the period. Ancora Inverness LLC increased its stake in Brookfield Asset Management by 1.2% in the third quarter. Ancora Inverness LLC now owns 33,242 shares of the company’s stock worth $1,169,000 after buying an additional 388 shares during the period. Heritage Wealth Advisors increased its stake in Brookfield Asset Management by 6.8% in the second quarter. Heritage Wealth Advisors now owns 8,199 shares of the company’s stock worth $271,000 after buying an additional 520 shares during the period. Finally, Argentus Capital Management LLC increased its stake in Brookfield Asset Management by 5.3% in the third quarter. Argentus Capital Management LLC now owns 11,189 shares of the company’s stock worth $394,000 after buying an additional 565 shares during the period. Institutional investors own 53.68% of the company’s stock.
Shares of Brookfield Asset Management Inc (NYSE:BAM) traded down 0.54% on Friday, reaching $36.52. 1,917,447 shares of the company traded hands. The stock has a market capitalization of $35.03 billion, a price-to-earnings ratio of 17.64 and a beta of 0.95. Brookfield Asset Management Inc has a 1-year low of $28.40 and a 1-year high of $37.23. The company has a 50-day moving average of $34.19 and a 200-day moving average of $34.25.
Brookfield Asset Management (NYSE:BAM) last posted its quarterly earnings results on Thursday, February 9th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.08. The company earned $6.94 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Brookfield Asset Management had a return on equity of 3.66% and a net margin of 9.37%. The company’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. Analysts anticipate that Brookfield Asset Management Inc will post $1.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Tuesday, February 28th will be issued a $0.14 dividend. The ex-dividend date is Friday, February 24th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.53%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.13. Brookfield Asset Management’s dividend payout ratio (DPR) is currently 24.88%.
BAM has been the subject of a number of research analyst reports. Royal Bank Of Canada cut their target price on shares of Brookfield Asset Management from $41.00 to $40.00 and set a “top pick” rating for the company in a research report on Monday, November 14th. TD Securities reaffirmed a “buy” rating and issued a $47.00 target price (up previously from $46.00) on shares of Brookfield Asset Management in a research report on Tuesday, November 15th. RBC Capital Markets reaffirmed a “top pick” rating and issued a $40.00 target price (down previously from $41.00) on shares of Brookfield Asset Management in a research report on Monday, November 14th. Citigroup Inc. initiated coverage on shares of Brookfield Asset Management in a research report on Thursday, January 19th. They issued a “buy” rating and a $39.00 target price for the company. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $40.00 target price on shares of Brookfield Asset Management in a research report on Monday, November 14th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $40.39.
About Brookfield Asset Management
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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