Brookfield Asset Management (TSE:BAM) Hits New 1-Year High – Should You Buy?

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$67.94 and last traded at C$67.64, with a volume of 7387 shares trading hands. The stock had previously closed at C$66.88.

Analyst Upgrades and Downgrades

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 Trading Up 3.0 %

The company has a market cap of C$28.96 billion and a PE ratio of 46.71. The stock’s 50 day moving average is C$59.55 and its 200-day 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.01). The company had revenue of C$1.57 billion for the quarter, compared to the consensus estimate of C$1.61 billion. As a group, sell-side analysts anticipate that Brookfield Asset Management Ltd. will post 2.4747786 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.525 per share. This is a boost 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 yield of 3.04%. Brookfield Asset Management’s payout ratio is 138.51%.

Insider Buying and Selling at Brookfield Asset Management

In other Brookfield Asset Management news, Senior Officer Anuj Ranjan sold 112,500 shares of the business’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. In related 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 value of C$18,111,093.75. Also, Senior Officer Anuj Ranjan sold 112,500 shares of the company’s 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. Company insiders own 14.11% 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.