Brookfield Asset Management Inc
- Author: Zachary Reyes Feb 14, 2017,
Feb 14, 2017, 2:44
Great-West Lifeco Inc. (TSX:GWO), or Lifeco for short, is an global financial services holding company with interests in the life insurance, health insurance, retirement and investment services, asset management, and reinsurance businesses in Canada, the United States, and Europe.
Brookfield Asset Management Inc (TSE:BAM.A) (NYSE:BAM) was downgraded by research analysts at Royal Bank Of Canada from a "top pick" rating to an "outperform" rating in a research report issued to clients and investors on Sunday. With the last stock price up 6.64% from the two hundred day average, compared with the Standard & Poor's 500 Index which has increased 0.06% over the same period. Fisher Asset Management LLC increased its stake in Brookfield Asset Management by 2.9% in the third quarter. Heritage Wealth Advisors now owns 8,199 shares of the company's stock worth $271,000 after buying an additional 520 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its stake in shares of Brookfield Asset Management by 16.9% in the second quarter.
Brookfield Asset Management Inc (NYSE:BAM) was dropped to Underweight from Equal Weight at Barclays. This is a boost from Brookfield Asset Management's previous quarterly dividend of $0.13.
Several brokerages have issued reports on BAM. The company reported $0.14 EPS for the quarter, missing the Zacks' consensus estimate of $0.22 by $0.08.
In its fourth-quarter earnings release on February 9, Lifeco announced a 6.1% increase to its quarterly dividend to $0.367 per share, representing $1.468 per share on an annualized basis, and this brings its stock's yield up to about 3.9% today. CGOV Asset Management purchased a new position in Brookfield Asset Management during the third quarter valued at $256,000.
Net income for 2016 totalled $3.3 billion or $1.55 per Brookfield share, compared to $4.7 billion or $2.26 per Brookfield share in the prior year. Therefore, the stated figure displays a quarterly performance of -0.89% and year to date performance of 27.40%. Funds from operations ("FFO") raised by 26% because of strong growth in asset administration revenues and carried interests, although fair value changes declined relative to the prior year which led to an overall reduction in net income.
Based on the Stock Research Brookfield Asset Management Inc. TD Securities reissued a "buy" rating and issued a $47.00 target price (up previously from $46.00) on shares of Brookfield Asset Management in a report on Tuesday, November 15th. The firm has a market cap of $35.10 billion, a price-to-earnings ratio of 17.68 and a beta of 0.95. This is because a rising dividend is a sign of a very strong business with excellent cash flows and earnings to support increased payouts, and the dividends themselves really add up over time when reinvested. Investors of record on Tuesday, February 28th will be given a dividend of $0.14 per share. Canaccord Genuity reissued a "buy" rating and issued a $40.00 price target on shares of Brookfield Asset Management in a research report on Monday, November 14th. Citigroup Inc initiated coverage on shares of Brookfield Asset Management in a report on Thursday, January 19th. The company presently has an average rating of "Buy" and an average target price of $40.29. I.G. Investment Management LTD. now owns 6,354,297 shares of the company's stock worth $210,232,000 after buying an additional 918,112 shares during the last quarter. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. Brookfield Asset Administration Inc. a leading global alternative asset manager, declared financial results for the year ended December 31, 2016. The Company operates in eight segments.
The increase in FFO includes a 64% increase from our asset management business, which is a result of the continued growth in our fee bearing capital, including capital raised in our private funds and the increased capitalization of our listed issuers.