Brookfield Asset Management (TSE:BAM) Sets New 52-Week High – Here’s Why

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$79.52 and last traded at C$78.49, with a volume of 570615 shares. The stock had previously closed at C$74.25.

Wall Street Analyst Weigh In

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 Up 2.8 %

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 firm has a market capitalization of C$31.96 billion and a PE ratio of 52.43. The company’s 50 day simple moving average is C$62.81 and its 200-day simple moving average is C$57.28.

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 the consensus estimate of C$0.48 by C($0.01). The firm had revenue of C$1.57 billion for the quarter, compared to analysts’ expectations of C$1.61 billion. On average, analysts forecast that Brookfield Asset Management Ltd. will post 2.5564428 EPS for the current fiscal 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 given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.10 annualized dividend and a dividend yield of 2.75%. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.52. 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 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 stock in a transaction 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. Also, Senior Officer Anuj Ranjan sold 112,500 shares of the 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. Corporate insiders own 14.10% of the company’s stock.

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.