Sather Financial Group Inc Raises Stake in Brookfield Asset Management Ltd. (NYSE:BAM)

Sather Financial Group Inc boosted its holdings in shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 497,082 shares of the financial services provider’s stock after acquiring an additional 7,250 shares during the period. Brookfield Asset Management accounts for about 1.5% of Sather Financial Group Inc’s investment portfolio, making the stock its 22nd largest holding. Sather Financial Group Inc owned about 0.11% of Brookfield Asset Management worth $23,507,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BAM. SG Americas Securities LLC purchased a new position in Brookfield Asset Management during the 1st quarter valued at about $137,000. Russell Investments Group Ltd. lifted its position in Brookfield Asset Management by 2.7% during the 1st quarter. Russell Investments Group Ltd. now owns 140,125 shares of the financial services provider’s stock valued at $5,892,000 after acquiring an additional 3,692 shares during the period. Kingsview Wealth Management LLC bought a new stake in Brookfield Asset Management during the 1st quarter valued at about $250,000. Blair William & Co. IL increased its stake in Brookfield Asset Management by 28.6% during the 1st quarter. Blair William & Co. IL now owns 22,824 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 5,076 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Brookfield Asset Management during the 1st quarter valued at about $340,000. 68.41% of the stock is owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 0.5 %

Shares of NYSE BAM opened at $55.77 on Friday. The firm has a 50 day moving average of $49.97 and a 200 day moving average of $43.39. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 49.35, a price-to-earnings-growth ratio of 2.36 and a beta of 1.42. Brookfield Asset Management Ltd. has a 12-month low of $33.06 and a 12-month high of $58.53.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $0.35 earnings per share. Sell-side analysts predict that Brookfield Asset Management Ltd. will post 1.45 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 134.51%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 price objective for the company. The Goldman Sachs Group raised their price objective on shares of Brookfield Asset Management from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets raised their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Scotiabank raised their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a “sector outperform” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.54.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.