Karpas Strategies LLC continued to hold its stake in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,935 shares of the financial services provider’s stock at the end of the second quarter. Brookfield Asset Management makes up 4.6% of Karpas Strategies LLC’s holdings, making the stock its 4th largest position. Karpas Strategies LLC’s holdings in Brookfield Asset Management were worth $10,231,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Group One Trading L.P. purchased a new stake in Brookfield Asset Management during the first quarter worth about $186,000. Visionary Asset Management Inc. purchased a new stake in Brookfield Asset Management during the second quarter worth about $201,000. Gould Asset Management LLC CA purchased a new stake in Brookfield Asset Management during the first quarter worth about $213,000. Fisher Asset Management LLC bought a new position in shares of Brookfield Asset Management during the first quarter worth about $215,000. Finally, Kings Point Capital Management increased its position in shares of Brookfield Asset Management by 82.7% in the first quarter. Kings Point Capital Management now owns 6,275 shares of the financial services provider’s stock worth $229,000 after buying an additional 2,840 shares during the period. Institutional investors and hedge funds own 53.96% of the company’s stock.
Shares of Brookfield Asset Management Inc (NYSE BAM) traded up 1.57% during mid-day trading on Monday, hitting $38.84. The stock had a trading volume of 742,983 shares. The stock has a market cap of $43.70 billion, a P/E ratio of 36.33 and a beta of 1.03. The firm has a 50 day moving average of $39.06 and a 200-day moving average of $37.48. Brookfield Asset Management Inc has a one year low of $32.04 and a one year high of $40.09.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.28. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $5.27 billion. Brookfield Asset Management had a return on equity of 2.14% and a net margin of 4.87%. The business’s revenue was up 58.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. Equities research analysts expect that Brookfield Asset Management Inc will post $0.99 earnings per share for the current fiscal year.
Brookfield Asset Management declared that its Board of Directors has approved a share buyback program on Friday, May 19th that authorizes the company to buyback 82,960,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a dividend of $0.14 per share. 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 1.44%. Brookfield Asset Management’s payout ratio is 43.75%.
BAM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $45.00 price objective on shares of Brookfield Asset Management in a research note on Friday, July 14th. Royal Bank Of Canada boosted their price target on Brookfield Asset Management from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, May 12th. TD Securities boosted their price target on Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Scotiabank boosted their price target on Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $42.00 price target on shares of Brookfield Asset Management in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Brookfield Asset Management has an average rating of “Buy” and a consensus price target of $42.44.
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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