Sather Financial Group Inc Grows Stock Position in Brookfield Asset Management Ltd. $BAM

Key Points

• Sather Financial Group increased its Brookfield Asset Management stake by 18.4% in the first quarter, buying 88,969 additional shares and bringing its total holdings to 571,709 shares worth about $25.4 million.
• Brookfield Asset Management reported quarterly earnings of $0.43 per share, beating analyst estimates by $0.02, while revenue came in at $1.43 billion as expected.
• The stock fell 1.1% to $46.47, and analysts currently have a consensus rating of Hold with an average target price of $60.21.

Sather Financial Group Inc increased its stake in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A by 18.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 571,709 shares of the financial services provider's stock after purchasing an additional 88,969 shares during the quarter. Brookfield Asset Management accounts for approximately 1.6% of Sather Financial Group Inc's holdings, making the stock its 24th biggest position. Sather Financial Group Inc's holdings in Brookfield Asset Management were worth $25,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Asset Management by 72.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,904,677 shares of the financial services provider's stock valued at $222,161,000 after purchasing an additional 1,642,375 shares during the last quarter. Korea Investment CORP raised its stake in shares of Brookfield Asset Management by 21.3% during the 3rd quarter. Korea Investment CORP now owns 284,049 shares of the financial services provider's stock worth $16,168,000 after buying an additional 49,917 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Brookfield Asset Management by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 17,723,182 shares of the financial services provider's stock worth $928,414,000 after buying an additional 297,790 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of Brookfield Asset Management by 48.6% in the 4th quarter. Cooke & Bieler LP now owns 2,001,903 shares of the financial services provider's stock worth $104,880,000 after buying an additional 655,009 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Brookfield Asset Management in the 3rd quarter valued at about $23,197,000. 68.41% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Asset Management Trading Down 1.1%

Shares of NYSE:BAM traded down $0.53 during trading on Tuesday, reaching $46.47. The stock had a trading volume of 473,089 shares, compared to its average volume of 3,437,192. The business has a fifty day moving average price of $47.32 and a 200-day moving average price of $48.45. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.34. The stock has a market cap of $76.13 billion, a P/E ratio of 30.20, a PEG ratio of 1.85 and a beta of 1.29. Brookfield Asset Management Ltd. has a fifty-two week low of $42.20 and a fifty-two week high of $64.10.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Friday, May 8th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%.The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. As a group, analysts anticipate that Brookfield Asset Management Ltd. will post 1.74 earnings per share for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were issued a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 130.52%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley cut their target price on shares of Brookfield Asset Management from $63.00 to $62.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 21st. Zacks Research lowered shares of Brookfield Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 20th. Canadian Imperial Bank of Commerce set a $62.50 price objective on shares of Brookfield Asset Management in a research note on Monday, May 11th. Scotiabank restated an "outperform" rating and set a $57.00 price objective (up from $56.00) on shares of Brookfield Asset Management in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. reduced their target price on Brookfield Asset Management from $72.00 to $60.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $60.21.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company's products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.

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