Brookfield Asset Management Inc (BAM) Position Lifted by CI Investments Inc.

CI Investments Inc. increased its position in shares of Brookfield Asset Management Inc (NYSE:BAM) by 41.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,589,015 shares of the company’s stock after acquiring an additional 758,205 shares during the quarter. CI Investments Inc. owned about 0.26% of Brookfield Asset Management worth $106,926,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its stake in Brookfield Asset Management by 0.7% during the 3rd quarter. Principal Financial Group Inc. now owns 25,353,413 shares of the company’s stock worth $1,047,092,000 after acquiring an additional 172,950 shares during the last quarter. FMR LLC boosted its stake in Brookfield Asset Management by 18.9% during the 2nd quarter. FMR LLC now owns 25,066,960 shares of the company’s stock worth $983,697,000 after acquiring an additional 3,980,816 shares during the last quarter. TD Asset Management Inc. boosted its stake in Brookfield Asset Management by 2.4% during the 2nd quarter. TD Asset Management Inc. now owns 21,728,082 shares of the company’s stock worth $851,423,000 after acquiring an additional 518,648 shares during the last quarter. First Manhattan Co. boosted its stake in Brookfield Asset Management by 2.3% during the 2nd quarter. First Manhattan Co. now owns 16,439,611 shares of the company’s stock worth $644,597,000 after acquiring an additional 363,367 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Brookfield Asset Management by 10.1% during the 3rd quarter. CIBC Asset Management Inc now owns 10,401,769 shares of the company’s stock worth $428,356,000 after acquiring an additional 956,713 shares during the last quarter. 52.06% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Brookfield Asset Management Inc (NYSE BAM) traded up $0.08 during mid-day trading on Monday, reaching $42.10. 527,475 shares of the company’s stock traded hands, compared to its average volume of 879,280. The company has a quick ratio of 1.01, a current ratio of 1.29 and a debt-to-equity ratio of 0.92. The firm has a market cap of $41,610.00, a P/E ratio of 93.38 and a beta of 1.06. Brookfield Asset Management Inc has a 52-week low of $32.04 and a 52-week high of $43.15.

Brookfield Asset Management (NYSE:BAM) last announced its earnings results on Thursday, August 10th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.28). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $5.27 billion. Brookfield Asset Management had a return on equity of 0.86% and a net margin of 1.70%. The business’s quarterly revenue was up 58.1% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.18 per share. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is 121.74%.

Several research firms recently weighed in on BAM. Royal Bank Of Canada lifted their price objective on shares of Brookfield Asset Management from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday. Scotiabank lifted their price objective on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. TD Securities lifted their price objective on shares of Brookfield Asset Management from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. Canaccord Genuity reissued a “buy” rating and set a $42.00 price objective on shares of Brookfield Asset Management in a research note on Friday, August 11th. Finally, Citigroup Inc. dropped their target price on shares of Brookfield Asset Management from $50.00 to $49.50 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.00.

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)

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