Recently, several hedge funds and institutional investors adjusted their holdings in Brookfield Asset Management. The National Bank of Canada FI increased its stake by 15.5% in Q1, now owning 801,163 shares worth $31.74 million after adding 107,245 shares. Confluence Investment Management LLC raised its stake by 382.6% in Q2, holding 89,891 shares valued at $3.42 million after 71,263 shares were purchased. O Shaughnessy Asset Management LLC and Intact Investment Management Inc. both made new investments in Brookfield at $3.01 million and $4.83 million respectively. Pitcairn Co. also acquired shares valued at $525,000. Overall, institutional investors own 68.41% of the company.
Brookfield Asset Management Stock Performance
NYSE BAM opened at $48.60 on Friday. The stock has seen a low of $28.35 and a high of $48.97 over the past year. Its 50-day and 200-day moving averages are $43.46 and $41.06 respectively. The company’s market cap is $21.57 billion with a price-to-earnings ratio of 45.00 and a PEG ratio of 2.26.
Brookfield recently reported its Q2 earnings on August 9th, showing $0.34 EPS, slightly below the $0.35 expected by analysts. Revenue was $916 million, compared to an estimate of $1.16 billion. The return on equity was 92.37% with a net margin of 51.29%. Analysts predict an EPS of 1.43 for the fiscal year.
Brookfield Asset Management Dividend Announcement
The company declared a quarterly dividend of $0.38 per share on August 30th, paid on September 27th. This equates to an annual dividend of $1.52 and a yield of 3.13%. The payout ratio stands at 140.74%.
Analysts Set New Price Targets
Analysts have recently adjusted their price targets for Brookfield. Scotiabank lowered theirs from $46.00 to $45.50 with a “sector outperform” rating. Wells Fargo raised theirs from $42.00 to $48.00, maintaining an “underweight” rating. BMO Capital Markets increased their target from $37.00 to $40.00, labeling it “market perform.” TD Securities raised their target from $49.00 to $50.00 and rated it as a “buy.” The stock has two sell ratings, five hold ratings, and five buy ratings, with a consensus rating of “Hold” and target price of $46.41.
About Brookfield Asset Management
(Free Report) Brookfield Asset Management Ltd. specializes in real estate and alternative asset management, including renewable energy solutions like hydro and wind power.
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