Brookfield Asset Management (TSE:BAM) Reaches New 1-Year High – Should You Buy?

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

Analyst Upgrades and Downgrades

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

Brookfield Asset Management Price Performance

The stock has a fifty day moving average of C$58.48 and a 200 day moving average of C$55.74. The company has a debt-to-equity ratio of 6.32, a current ratio of 0.85 and a quick ratio of 0.95. The stock has a market cap of C$27.23 billion and a price-to-earnings ratio of 43.39.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last posted its quarterly earnings results on Wednesday, August 7th. The company reported C$0.47 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 for the quarter, compared to the consensus estimate of C$1.61 billion. On average, analysts expect that Brookfield Asset Management Ltd. will post 2.4747786 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.525 per share. The ex-dividend date was Friday, August 30th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 3.23%. Brookfield Asset Management’s dividend payout ratio is currently 138.51%.

Insider Activity

In other Brookfield Asset Management news, Director Brian William Kingston sold 281,250 shares of Brookfield Asset Management 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 Brookfield Asset Management news, Senior Officer Anuj Ranjan sold 112,500 shares of the firm’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. Also, Director Brian William Kingston sold 281,250 shares of Brookfield Asset Management stock in a transaction 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. Company insiders own 14.11% of the company’s stock.

Brookfield Asset Management Company 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.