Janney Montgomery Scott LLC Has $1.45 Million Stake in Brookfield Asset Management Inc (BAM)

Janney Montgomery Scott LLC grew its holdings in shares of Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 15.7% during the first quarter, Holdings Channel reports. The institutional investor owned 31,048 shares of the financial services provider’s stock after buying an additional 4,206 shares during the period. Janney Montgomery Scott LLC’s holdings in Brookfield Asset Management were worth $1,448,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BAM. Norges Bank bought a new position in shares of Brookfield Asset Management during the fourth quarter valued at approximately $335,315,000. Jarislowsky Fraser Ltd grew its stake in shares of Brookfield Asset Management by 62.6% during the fourth quarter. Jarislowsky Fraser Ltd now owns 10,478,325 shares of the financial services provider’s stock valued at $401,395,000 after buying an additional 4,033,441 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Brookfield Asset Management by 36.0% in the fourth quarter. Mackenzie Financial Corp now owns 12,258,486 shares of the financial services provider’s stock valued at $470,113,000 after purchasing an additional 3,244,827 shares during the period. Montrusco Bolton Investments Inc. purchased a new stake in shares of Brookfield Asset Management in the fourth quarter valued at approximately $71,319,000. Finally, CI Investments Inc. boosted its holdings in shares of Brookfield Asset Management by 13.3% in the fourth quarter. CI Investments Inc. now owns 8,855,710 shares of the financial services provider’s stock valued at $339,616,000 after purchasing an additional 1,037,416 shares during the period. 61.85% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BAM opened at $47.57 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.91 and a current ratio of 1.10. Brookfield Asset Management Inc has a 1 year low of $36.58 and a 1 year high of $48.43. The firm has a market capitalization of $47.31 billion, a P/E ratio of 14.88 and a beta of 1.17.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Thursday, May 9th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.01. Brookfield Asset Management had a return on equity of 3.86% and a net margin of 5.63%. The firm had revenue of $15.21 billion for the quarter, compared to the consensus estimate of $12.35 billion. During the same period in the prior year, the firm earned $1.16 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.35%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, May 30th.

A number of brokerages recently issued reports on BAM. TD Securities boosted their price target on Brookfield Asset Management from $62.00 to $63.00 and gave the company a “buy” rating in a report on Friday, May 10th. BMO Capital Markets restated a “buy” rating on shares of Brookfield Asset Management in a report on Friday, April 5th. Finally, Royal Bank of Canada upped their target price on Brookfield Asset Management from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. Six equities research analysts have rated the stock with a buy rating, Brookfield Asset Management presently has an average rating of “Buy” and an average target price of $52.92.

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Brookfield Asset Management Company Profile

Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.

Further Reading: Fundamental Analysis – How It Helps Investors

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

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