Aigen Investment Management LP Takes $603,000 Position in Brookfield Asset Management Inc. (NYSE:BAM)

Aigen Investment Management LP acquired a new stake in Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,553 shares of the financial services provider’s stock, valued at approximately $603,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAM. Norges Bank acquired a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $565,086,000. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Asset Management by 24.1% in the first quarter. The Manufacturers Life Insurance Company now owns 24,275,961 shares of the financial services provider’s stock valued at $1,357,027,000 after buying an additional 4,706,808 shares during the last quarter. FIL Ltd lifted its position in shares of Brookfield Asset Management by 13.9% in the fourth quarter. FIL Ltd now owns 31,841,182 shares of the financial services provider’s stock valued at $1,316,272,000 after buying an additional 3,891,999 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Brookfield Asset Management by 19.5% in the first quarter. Bank of Nova Scotia now owns 21,722,575 shares of the financial services provider’s stock valued at $966,597,000 after buying an additional 3,540,699 shares during the last quarter. Finally, Eaton Vance Management lifted its position in shares of Brookfield Asset Management by 572.8% in the fourth quarter. Eaton Vance Management now owns 1,300,293 shares of the financial services provider’s stock valued at $53,663,000 after buying an additional 1,107,037 shares during the last quarter. 62.64% of the stock is owned by institutional investors.

Brookfield Asset Management stock opened at $49.88 on Friday. The business’s fifty day moving average is $47.14. Brookfield Asset Management Inc. has a one year low of $29.09 and a one year high of $50.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.90 and a current ratio of 1.07. The company has a market cap of $78.69 billion, a price-to-earnings ratio of 59.38 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Wednesday, May 12th. The financial services provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.33. Brookfield Asset Management had a return on equity of 1.22% and a net margin of 2.23%. The firm had revenue of $16.41 billion for the quarter, compared to analyst estimates of $10.89 billion. During the same quarter last year, the company earned $0.55 EPS. The company’s revenue was down 1.1% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Friday, May 28th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, May 27th. This represents a $0.52 annualized dividend and a dividend yield of 1.04%. Brookfield Asset Management’s payout ratio is -200.00%.

A number of brokerages have recently weighed in on BAM. JPMorgan Chase & Co. lowered their target price on Brookfield Asset Management from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, March 22nd. Royal Bank of Canada increased their target price on Brookfield Asset Management from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. TD Securities increased their target price on Brookfield Asset Management from $57.00 to $63.00 and gave the stock an “action list buy” rating in a research note on Friday, February 12th. Zacks Investment Research upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Monday, May 17th. Finally, Credit Suisse Group lowered Brookfield Asset Management from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $54.00 in a research note on Wednesday, March 31st. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $48.50.

About Brookfield Asset Management

Brookfield Asset Management is a leading global alternative asset manager and one of the largest investors in real assets. Our investment focus is on real estate, renewable power, infrastructure and private equity assets. Our objective is to generate attractive long-term risk-adjusted returns for the benefit of our clients and shareholders.

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

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