American Century Companies Inc. increased its position in Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,101 shares of the financial services provider’s stock after purchasing an additional 2,966 shares during the period. American Century Companies Inc.’s holdings in Brookfield Asset Management were worth $6,163,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new position in shares of Brookfield Asset Management in the 4th quarter worth $103,000. First Personal Financial Services bought a new position in shares of Brookfield Asset Management in the 4th quarter worth $107,000. Calton & Associates Inc. bought a new position in shares of Brookfield Asset Management in the 4th quarter worth $118,000. Moors & Cabot Inc. bought a new position in shares of Brookfield Asset Management in the 4th quarter worth $209,000. Finally, Advisor Partners LLC bought a new position in shares of Brookfield Asset Management in the 1st quarter worth $220,000. Institutional investors own 60.77% of the company’s stock.
A number of brokerages recently issued reports on BAM. TheStreet cut Brookfield Asset Management from a “b-” rating to a “c+” rating in a report on Thursday, January 25th. Scotiabank increased their target price on Brookfield Asset Management from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, May 11th. TD Securities raised their price objective on Brookfield Asset Management from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, May 14th. Finally, Royal Bank of Canada raised their price objective on Brookfield Asset Management from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $48.75.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, May 10th. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $1.00. Brookfield Asset Management had a return on equity of 3.18% and a net margin of 4.97%. The firm had revenue of $12.63 billion during the quarter. During the same period in the prior year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 110.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, May 30th.
About Brookfield Asset Management
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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