Lourd Capital LLC Invests $325,000 in Brookfield Asset Management Inc (BAM) Stock
Lourd Capital LLC purchased a new position in Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,470 shares of the financial services provider’s stock, valued at approximately $325,000.
A number of other large investors have also recently bought and sold shares of BAM. First Personal Financial Services acquired a new position in Brookfield Asset Management in the fourth quarter worth about $107,000. QS Investors LLC grew its stake in Brookfield Asset Management by 69.8% in the second quarter. QS Investors LLC now owns 2,798 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 1,150 shares in the last quarter. Veritas Investment Management UK Ltd acquired a new position in Brookfield Asset Management in the third quarter worth about $149,000. Atlantic Trust LLC acquired a new position in Brookfield Asset Management in the second quarter worth about $191,000. Finally, Cortland Associates Inc. MO acquired a new position in Brookfield Asset Management in the third quarter worth about $209,000. Institutional investors and hedge funds own 54.05% of the company’s stock.
A number of brokerages have commented on BAM. ValuEngine downgraded Brookfield Asset Management from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Canaccord Genuity restated a “buy” rating and issued a $47.00 target price on shares of Brookfield Asset Management in a research note on Monday, October 2nd. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. TheStreet upgraded Brookfield Asset Management from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th. Finally, Scotiabank lifted their target price on Brookfield Asset Management from $42.75 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, October 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $47.00.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Thursday, November 9th. The financial services provider reported $0.20 EPS for the quarter. Brookfield Asset Management had a return on equity of 0.86% and a net margin of 1.70%. The company had revenue of $15.40 billion during the quarter.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Wednesday, November 29th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.14. Brookfield Asset Management’s payout ratio is 121.74%.
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About Brookfield Asset Management
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.
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