Sather Financial Group Inc Sells 469 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Sather Financial Group Inc decreased its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 0.1% during the 4th quarter, HoldingsChannel reports. The fund owned 496,613 shares of the financial services provider’s stock after selling 469 shares during the quarter. Brookfield Asset Management comprises about 1.7% of Sather Financial Group Inc’s portfolio, making the stock its 23rd largest holding. Sather Financial Group Inc’s holdings in Brookfield Asset Management were worth $26,911,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in shares of Brookfield Asset Management by 0.5% in the third quarter. Bank of Montreal Can now owns 9,236,374 shares of the financial services provider’s stock valued at $435,729,000 after purchasing an additional 43,134 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Asset Management by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 8,867,458 shares of the financial services provider’s stock valued at $419,400,000 after acquiring an additional 24,409 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Brookfield Asset Management by 10.3% during the third quarter. CIBC Asset Management Inc now owns 3,953,496 shares of the financial services provider’s stock worth $188,057,000 after buying an additional 370,383 shares during the last quarter. Douglass Winthrop Advisors LLC raised its position in Brookfield Asset Management by 3.9% during the third quarter. Douglass Winthrop Advisors LLC now owns 2,670,488 shares of the financial services provider’s stock worth $126,287,000 after acquiring an additional 99,020 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock valued at $92,896,000 after acquiring an additional 784,250 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

Brookfield Asset Management Stock Down 3.4 %

Shares of Brookfield Asset Management stock opened at $55.59 on Wednesday. The company has a 50-day simple moving average of $56.49 and a two-hundred day simple moving average of $50.77. Brookfield Asset Management Ltd. has a twelve month low of $37.29 and a twelve month high of $62.61. The stock has a market capitalization of $24.63 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 2.18 and a beta of 1.46.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group upped their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Scotiabank lifted their target price on Brookfield Asset Management from $59.50 to $63.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their price target on Brookfield Asset Management from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, UBS Group initiated coverage on shares of Brookfield Asset Management in a research report on Monday, December 16th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.58.

About Brookfield Asset Management

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.