Brookfield Asset Management (TSE:BAM) Hits 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 Tuesday . The stock traded as high as C$67.94 and last traded at C$67.64, with a volume of 7387 shares changing hands. The stock had previously closed at C$66.88.

Analyst Ratings Changes

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

Brookfield Asset Management Trading Up 3.0 %

The firm has a market capitalization of C$28.96 billion and a PE ratio of 46.71. The company’s 50-day simple moving average is C$59.55 and its 200 day simple moving average is C$56.18. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 6.32.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last released 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 analyst estimates of C$1.61 billion. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 2.4747786 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a $0.525 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 138.51%.

Insider Activity at Brookfield Asset Management

In related news, Director Brian William Kingston sold 281,250 shares of the 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 value of C$18,111,093.75. In related news, Senior Officer Anuj Ranjan sold 112,500 shares of the 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 value of C$4,458,375.00. Also, Director Brian William Kingston sold 281,250 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$64.40, for a total transaction of C$18,111,093.75. 14.11% of the stock is currently owned by insiders.

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.