Brookfield Asset Management (TSE:BAM) Hits New 12-Month High – What’s Next?

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as C$71.38 and last traded at C$71.35, with a volume of 10765 shares changing hands. The stock had previously closed at C$71.15.

Analyst Ratings Changes

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

Brookfield Asset Management Stock Down 1.3 %

The business has a 50 day moving average of C$60.20 and a two-hundred day moving average of C$56.48. The stock has a market capitalization of C$29.20 billion and a PE ratio of 46.48. 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 data 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 company had revenue of C$1.57 billion for the quarter, compared to analysts’ expectations of C$1.61 billion. Analysts predict that Brookfield Asset Management Ltd. will post 2.5564428 EPS for the current year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.525 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 30th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.01%. Brookfield Asset Management’s payout ratio is presently 136.67%.

Insider Activity at Brookfield Asset Management

In other Brookfield Asset Management 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. In related news, Director Brian William Kingston sold 281,250 shares of the firm’s 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. Also, Senior Officer Anuj Ranjan sold 112,500 shares of Brookfield Asset Management stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$39.63, for a total value of C$4,458,375.00. 14.10% 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.