Schwartz Investment Counsel Inc. Purchases 62,442 Shares of Brookfield Asset Management Ltd. $BAM

Schwartz Investment Counsel Inc. boosted its position in Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) by 858.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,717 shares of the financial services provider’s stock after purchasing an additional 62,442 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Brookfield Asset Management were worth $3,970,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Gold Investment Management Ltd. grew its position in shares of Brookfield Asset Management by 2.6% in the 3rd quarter. Gold Investment Management Ltd. now owns 48,353 shares of the financial services provider’s stock valued at $2,752,000 after buying an additional 1,215 shares during the last quarter. SOL Capital Management CO lifted its stake in shares of Brookfield Asset Management by 5.4% in the third quarter. SOL Capital Management CO now owns 68,895 shares of the financial services provider’s stock worth $3,923,000 after acquiring an additional 3,548 shares during the period. Evergreen Capital Management LLC boosted its holdings in Brookfield Asset Management by 12.4% in the third quarter. Evergreen Capital Management LLC now owns 5,083 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 562 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Brookfield Asset Management by 6.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,493 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 319 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in Brookfield Asset Management by 1,123.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 832 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 764 shares during the last quarter. 68.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Brookfield Asset Management from $62.00 to $59.00 and set an “underperform” rating on the stock in a report on Monday, November 10th. The Goldman Sachs Group dropped their price objective on Brookfield Asset Management from $67.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Wall Street Zen upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. National Bankshares lowered their target price on Brookfield Asset Management from $71.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Finally, UBS Group set a $58.00 price target on Brookfield Asset Management and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.38.

Brookfield Asset Management Price Performance

Shares of NYSE:BAM opened at $52.77 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The stock has a market cap of $86.43 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 2.26 and a beta of 1.39. The stock’s fifty day simple moving average is $52.75 and its two-hundred day simple moving average is $56.34. Brookfield Asset Management Ltd. has a 1-year low of $41.78 and a 1-year high of $64.10.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Brookfield Asset Management had a return on equity of 33.77% and a net margin of 58.25%.The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.34 billion. As a group, analysts forecast that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Asset Management’s dividend payout ratio is currently 109.38%.

Brookfield Asset Management 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.