Brookfield Asset Management (TSE:BAM) Hits New 12-Month High at $62.73

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$62.73 and last traded at C$62.17, with a volume of 424600 shares trading hands. The stock had previously closed at C$61.93.

Analyst Upgrades and Downgrades

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

Brookfield Asset Management Stock Performance

The firm has a fifty day moving average of C$56.26 and a 200 day moving average of C$55.08. The stock has a market cap of C$26.04 billion and a price-to-earnings ratio of 42.01. The company has a debt-to-equity ratio of 6.32, a current ratio of 0.85 and a quick ratio of 0.95.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last issued its earnings results on Wednesday, August 7th. The company reported C$0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.01). The business had revenue of C$1.57 billion during the quarter, compared to analyst estimates of C$1.61 billion. As a group, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 2.4875856 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 3.38%. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 30th. Brookfield Asset Management’s payout ratio is presently 138.51%.

Insider Activity

In other news, Senior Officer Anuj Ranjan sold 112,500 shares of Brookfield Asset Management 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. Corporate insiders own 14.29% 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.