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

Aigen Investment Management LP acquired a new stake in shares of Brookfield Asset Management Inc. (NYSE:BAM) (TSE:BAM.A) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 recently added to or reduced their stakes in the company. FIL Ltd increased its position in shares of Brookfield Asset Management by 13.9% during 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 purchasing an additional 3,891,999 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Brookfield Asset Management by 24.1% in the 1st 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 in the last quarter. Bank of Nova Scotia boosted its stake in Brookfield Asset Management by 19.5% in the 1st 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 in the last quarter. Norges Bank acquired a new stake in Brookfield Asset Management in the 4th quarter valued at $565,086,000. Finally, CIBC World Markets Inc. boosted its stake in Brookfield Asset Management by 1.1% in the 4th quarter. CIBC World Markets Inc. now owns 12,159,845 shares of the financial services provider’s stock valued at $501,837,000 after buying an additional 134,178 shares in the last quarter. Institutional investors and hedge funds own 62.64% of the company’s stock.

Shares of BAM opened at $49.88 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.07 and a debt-to-equity ratio of 1.15. Brookfield Asset Management Inc. has a 12-month low of $29.09 and a 12-month high of $50.75. The firm has a market capitalization of $78.69 billion, a price-to-earnings ratio of 59.38 and a beta of 1.26. The firm’s fifty day moving average price is $47.14.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its quarterly earnings results on Wednesday, May 12th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $10.89 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year.

The company 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 dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, May 27th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently -200.00%.

Several analysts recently commented on BAM shares. TheStreet raised Brookfield Asset Management from a “c+” rating to a “b-” rating in a research note on Tuesday, March 23rd. TD Securities boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company an “action list buy” rating in a research note on Friday, February 12th. Royal Bank of Canada boosted their price target on Brookfield Asset Management from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, February 12th. JPMorgan Chase & Co. decreased their price target 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. Finally, Credit Suisse Group lowered Brookfield Asset Management from an “outperform” rating to a “neutral” rating and boosted their price target for the company 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 given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus 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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