Brookfield Asset Management (TSE:BAM) Reaches New 52-Week High – Time to Buy?

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$64.81 and last traded at C$64.74, with a volume of 191886 shares traded. The stock had previously closed at C$64.22.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised Brookfield Asset Management to a “strong sell” rating in a research note on Thursday, September 12th.

Brookfield Asset Management Price Performance

The company has a market cap of C$28.01 billion and a price-to-earnings ratio of 44.43. The company’s 50 day moving average price is C$58.77 and its 200-day moving average price is C$55.87. The company has a debt-to-equity ratio of 6.32, a quick ratio of 0.95 and a current ratio of 0.85.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.48 by C($0.01). The business had revenue of C$1.57 billion during the quarter, compared to the consensus estimate of C$1.61 billion. On average, equities research analysts forecast that Brookfield Asset Management Ltd. will post 2.4747786 earnings per share for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 3.14%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio is currently 138.51%.

Insider Activity at Brookfield Asset Management

In other Brookfield Asset Management news, Director Brian William Kingston sold 281,250 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$64.40, for a total transaction of C$18,111,093.75. In other news, Director Brian William Kingston sold 281,250 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$64.40, for a total transaction of C$18,111,093.75. Also, Senior Officer Anuj Ranjan sold 112,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$39.63, for a total transaction of C$4,458,375.00. 14.11% of the stock is currently owned by corporate insiders.

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.