AQR Capital Management LLC Has $16.22 Million Stake in Brookfield Asset Management Inc (BAM)

AQR Capital Management LLC boosted its position in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 2,001.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,465 shares of the financial services provider’s stock after buying an additional 425,224 shares during the period. AQR Capital Management LLC’s holdings in Brookfield Asset Management were worth $16,220,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Signaturefd LLC raised its position in Brookfield Asset Management by 0.5% in the first quarter. Signaturefd LLC now owns 9,975 shares of the financial services provider’s stock valued at $364,000 after buying an additional 45 shares in the last quarter. Allen Investment Management LLC increased its stake in Brookfield Asset Management by 2.2% in the first quarter. Allen Investment Management LLC now owns 14,868 shares of the financial services provider’s stock valued at $542,000 after buying an additional 321 shares in the last quarter. Levin Capital Strategies L.P. increased its stake in shares of Brookfield Asset Management by 1.6% in the first quarter. Levin Capital Strategies L.P. now owns 21,000 shares of the financial services provider’s stock worth $766,000 after buying an additional 330 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Brookfield Asset Management by 3.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,000 shares of the financial services provider’s stock worth $438,000 after buying an additional 450 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Brookfield Asset Management by 6.9% in the first quarter. M&T Bank Corp now owns 8,290 shares of the financial services provider’s stock worth $303,000 after buying an additional 535 shares during the period. 53.13% of the stock is owned by institutional investors and hedge funds.

Brookfield Asset Management Inc (NYSE:BAM) traded up 0.42% on Friday, hitting $38.70. 584,038 shares of the company’s stock were exchanged. Brookfield Asset Management Inc has a 12-month low of $32.04 and a 12-month high of $40.09. The company’s 50-day moving average price is $38.94 and its 200-day moving average price is $37.09. The company has a market cap of $37.10 billion, a PE ratio of 31.03 and a beta of 1.04.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, May 11th. The financial services provider reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.18 by $0.26. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts forecast that Brookfield Asset Management Inc will post $1.32 earnings per share for the current year.

Brookfield Asset Management announced that its board has approved a stock repurchase plan on Friday, May 19th that allows the company to repurchase 82,960,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Wednesday, May 31st were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.56 annualized dividend and a yield of 1.45%. Brookfield Asset Management’s dividend payout ratio (DPR) is 44.80%.

COPYRIGHT VIOLATION NOTICE: This story was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.chaffeybreeze.com/2017/07/30/aqr-capital-management-llc-increases-position-in-brookfield-asset-management-inc-bam-updated-updated-updated.html.

A number of research analysts have recently issued reports on the company. TD Securities reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research note on Saturday, May 13th. Royal Bank Of Canada reissued a “buy” rating and set a $42.00 price target on shares of Brookfield Asset Management in a research report on Thursday. BidaskClub cut shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $45.00 price target on shares of Brookfield Asset Management in a research note on Friday, July 14th. Finally, ValuEngine downgraded shares of Brookfield Asset Management from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Brookfield Asset Management currently has a consensus rating of “Buy” and a consensus price target of $41.57.

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.

Institutional Ownership by Quarter for Brookfield Asset Management (NYSE:BAM)

Receive News & Ratings for Brookfield Asset Management Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Asset Management Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply