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

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

Wall Street Analyst Weigh In

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

The firm has a market capitalization of C$27.23 billion and a PE ratio of 43.39. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 6.32. The company has a 50-day moving average of C$58.48 and a 200 day moving average of C$55.74.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last released its quarterly earnings results on Wednesday, August 7th. The company reported C$0.47 earnings per share 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. Equities research analysts predict 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. Stockholders of record on Friday, September 27th were issued a $0.525 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.10 annualized dividend and a dividend yield of 3.23%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.52. Brookfield Asset Management’s payout ratio is currently 138.51%.

Insider Buying and Selling

In other news, Director Brian William Kingston sold 281,250 shares of the company’s 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, 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. Also, Senior Officer Anuj Ranjan sold 112,500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of C$39.63, for a total transaction of C$4,458,375.00. 14.11% of the stock is owned by corporate 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.