Brookfield Asset Management (TSE:BAM) Reaches New 52-Week High at $64.87

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$64.87 and last traded at C$64.43, with a volume of 131344 shares changing hands. The stock had previously closed at C$64.18.

Wall Street Analyst Weigh In

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

Brookfield Asset Management Stock Performance

The business has a 50-day moving average of C$57.72 and a two-hundred day moving average of C$55.48. The company has a debt-to-equity ratio of 6.32, a current ratio of 0.85 and a quick ratio of 0.95. The company has a market cap of C$26.94 billion and a P/E ratio of 43.38.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of C$1.61 billion. On average, sell-side analysts predict that Brookfield Asset Management Ltd. will post 2.4950884 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were issued a $0.525 dividend. The ex-dividend date was Friday, August 30th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 3.26%. Brookfield Asset Management’s dividend payout ratio (DPR) is 137.58%.

Insider Buying and Selling

In other Brookfield Asset Management news, Director Brian William Kingston sold 281,250 shares of Brookfield Asset Management 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. In related news, Director Brian William Kingston sold 281,250 shares of the stock in a transaction dated 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. Also, Senior Officer Anuj Ranjan sold 112,500 shares of the firm’s stock in a transaction 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. 14.30% of the stock is currently owned by company insiders.

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.