Atria Investments LLC increased its holdings in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 283.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,000 shares of the financial services provider’s stock after buying an additional 15,518 shares during the period. Atria Investments LLC’s holdings in Brookfield Asset Management were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC raised its position in shares of Brookfield Asset Management by 121.6% in the second quarter. Valeo Financial Advisors LLC now owns 2,555 shares of the financial services provider’s stock valued at $110,000 after buying an additional 1,402 shares in the last quarter. Squar Milner Financial Services LLC acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $175,000. FineMark National Bank & Trust acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $200,000. Timber Hill LLC acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $201,000. Finally, Signature Financial Management Inc. acquired a new position in Brookfield Asset Management during the second quarter valued at approximately $204,000. Institutional investors own 60.39% of the company’s stock.
Several research analysts have commented on BAM shares. BMO Capital Markets started coverage on shares of Brookfield Asset Management in a research report on Thursday, September 20th. They set an “outperform” rating and a $54.00 price objective for the company. Scotiabank restated a “buy” rating and set a $50.50 price objective on shares of Brookfield Asset Management in a research report on Tuesday, August 7th. Finally, Royal Bank of Canada boosted their price objective on shares of Brookfield Asset Management from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Five equities research analysts have rated the stock with a buy rating, Brookfield Asset Management has a consensus rating of “Buy” and a consensus target price of $51.20.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Thursday, August 9th. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.04 by $0.58. Brookfield Asset Management had a net margin of 5.49% and a return on equity of 3.74%. The business had revenue of $13.28 billion during the quarter. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up 40.6% on a year-over-year basis.
The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, August 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%.
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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