TD Asset Management Inc. Grows Stake in Brookfield Asset Management Inc (NYSE:BAM)
TD Asset Management Inc. boosted its position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) by 0.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,890,421 shares of the financial services provider’s stock after purchasing an additional 8,267 shares during the period. Brookfield Asset Management comprises 1.4% of TD Asset Management Inc.’s investment portfolio, making the stock its 11th biggest position. TD Asset Management Inc.’s holdings in Brookfield Asset Management were worth $905,671,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in shares of Brookfield Asset Management by 54.0% during the 2nd quarter. Signaturefd LLC now owns 2,354 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 825 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Brookfield Asset Management by 3.0% in the second quarter. Great West Life Assurance Co. Can now owns 7,745,503 shares of the financial services provider’s stock worth $369,776,000 after purchasing an additional 228,697 shares during the period. Aperio Group LLC purchased a new stake in Brookfield Asset Management in the second quarter worth $699,000. Intact Investment Management Inc. increased its stake in Brookfield Asset Management by 5.1% in the second quarter. Intact Investment Management Inc. now owns 1,190,560 shares of the financial services provider’s stock worth $74,315,000 after purchasing an additional 57,400 shares during the period. Finally, Highstreet Asset Management Inc. increased its stake in Brookfield Asset Management by 122.3% in the second quarter. Highstreet Asset Management Inc. now owns 485,683 shares of the financial services provider’s stock worth $23,235,000 after purchasing an additional 267,171 shares during the period. 60.88% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Brookfield Asset Management In sold 1,900,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $23.75, for a total transaction of $45,125,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of BAM traded up $0.47 during midday trading on Tuesday, reaching $51.00. 380,278 shares of the stock were exchanged, compared to its average volume of 1,443,146. Brookfield Asset Management Inc has a 52 week low of $36.58 and a 52 week high of $51.16. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.10 and a quick ratio of 0.91. The firm has a 50 day moving average price of $48.82. The company has a market capitalization of $50.65 billion, a P/E ratio of 17.42 and a beta of 1.12.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.25. Brookfield Asset Management had a return on equity of 3.38% and a net margin of 4.86%. The business had revenue of $16.92 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The business’s revenue was up 27.5% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 29th.
About Brookfield Asset Management
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.
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