UBS Group Reiterates Buy Rating for Brookfield Asset Management (TSE:BAM)

UBS Group restated their buy rating on shares of Brookfield Asset Management (TSE:BAM) (NYSE:BAM) in a report released on Monday,BayStreet.CA reports.

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

Brookfield Asset Management Stock Performance

Shares of Brookfield Asset Management stock opened at C$77.68 on Monday. The firm has a market cap of C$32.54 billion and a PE ratio of 51.79. Brookfield Asset Management has a 1 year low of C$50.25 and a 1 year high of C$84.17. The firm’s 50-day simple moving average is C$75.81 and its 200-day simple moving average is C$62.61. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.96%. Brookfield Asset Management’s dividend payout ratio (DPR) is 136.67%.

Insider Activity

In related news, Director Justin B. Beber sold 25,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of C$83.87, for a total transaction of C$2,096,630.00. Also, Director Brian William Kingston sold 281,250 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$64.40, for a total value of C$18,111,093.75. Company insiders own 14.10% of the company’s stock.

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.