Sather Financial Group Inc Sells 8,926 Shares of Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• Sather Financial Group Inc reduced its stake in Brookfield Asset Management by 1.8%, owning 487,687 shares valued at approximately $23.6 million as of the latest quarter.
• Analysts have set a consensus rating of "Moderate Buy" for Brookfield, with an average target price of $59.64, and various price targets ranging from $54.00 to $72.00.
• Brookfield recently announced a quarterly dividend of $0.4375 per share, representing an annual yield of 2.78%, but has a high dividend payout ratio of 124.11%.

Sather Financial Group Inc decreased its stake in Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 1.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 487,687 shares of the financial services provider's stock after selling 8,926 shares during the quarter. Brookfield Asset Management accounts for about 1.5% of Sather Financial Group Inc's investment portfolio, making the stock its 23rd largest holding. Sather Financial Group Inc's holdings in Brookfield Asset Management were worth $23,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of BAM. Commonwealth Equity Services LLC boosted its position in Brookfield Asset Management by 6.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 30,869 shares of the financial services provider's stock worth $1,673,000 after acquiring an additional 1,850 shares during the period. American Century Companies Inc. boosted its position in Brookfield Asset Management by 30.5% during the 4th quarter. American Century Companies Inc. now owns 74,389 shares of the financial services provider's stock worth $4,033,000 after acquiring an additional 17,369 shares during the period. LPL Financial LLC boosted its position in Brookfield Asset Management by 12.8% during the 4th quarter. LPL Financial LLC now owns 52,181 shares of the financial services provider's stock worth $2,828,000 after acquiring an additional 5,934 shares during the period. Vanguard Group Inc. boosted its position in Brookfield Asset Management by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 16,901,942 shares of the financial services provider's stock worth $916,676,000 after acquiring an additional 263,660 shares during the period. Finally, Korea Investment CORP boosted its position in Brookfield Asset Management by 77.9% during the 4th quarter. Korea Investment CORP now owns 228,895 shares of the financial services provider's stock worth $12,408,000 after acquiring an additional 100,233 shares during the period. Institutional investors and hedge funds own 68.41% of the company's stock.

Brookfield Asset Management Stock Performance

NYSE BAM traded up $0.04 during trading on Wednesday, hitting $62.83. The company's stock had a trading volume of 336,433 shares, compared to its average volume of 2,101,410. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $57.02 and a 200 day moving average price of $54.68. The firm has a market cap of $102.88 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. Brookfield Asset Management Ltd. has a 52 week low of $38.18 and a 52 week high of $63.53.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.29 billion. Brookfield Asset Management had a return on equity of 52.70% and a net margin of 55.26%. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.7 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 30th were given a $0.4375 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.75 annualized dividend and a yield of 2.79%. Brookfield Asset Management's payout ratio is 124.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BAM shares. Piper Sandler started coverage on Brookfield Asset Management in a research note on Monday, June 30th. They set a "neutral" rating and a $60.00 price target for the company. National Bank Financial started coverage on Brookfield Asset Management in a research note on Tuesday. They set an "outperform" rating and a $71.00 price target for the company. Wall Street Zen raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Royal Bank Of Canada started coverage on Brookfield Asset Management in a research note on Wednesday, June 18th. They set an "outperform" rating and a $72.00 price target for the company. Finally, TD Securities raised their price target on Brookfield Asset Management from $66.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.63.

Brookfield Asset Management 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.