Brookfield Asset Management (TSE:BAM) Hits New 12-Month High – Here’s Why

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) shares reached a new 52-week high during trading on Friday . The stock traded as high as C$81.98 and last traded at C$81.59, with a volume of 36483 shares trading hands. The stock had previously closed at C$81.06.

Wall Street Analysts Forecast Growth

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

Brookfield Asset Management Price Performance

The company has a debt-to-equity ratio of 6.32, a quick ratio of 0.95 and a current ratio of 0.85. The business’s fifty day simple moving average is C$72.93 and its 200 day simple moving average is C$61.08. The stock has a market cap of C$34.12 billion and a price-to-earnings ratio of 54.30.

Brookfield Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 29th will be paid a $0.38 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. Brookfield Asset Management’s dividend payout ratio (DPR) is 136.67%.

Insider Activity

In related news, 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 value of C$18,111,093.75. Company insiders own 14.10% 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.