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

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s stock price hit a new 52-week high on Monday . The stock traded as high as C$71.38 and last traded at C$71.35, with a volume of 10765 shares. The stock had previously closed at C$71.15.

Analysts Set New Price Targets

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

Brookfield Asset Management Trading Down 1.3 %

The firm has a market capitalization of C$29.20 billion and a P/E ratio of 46.48. The stock has a fifty day simple moving average of C$60.20 and a 200 day simple moving average of C$56.48. 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 EPS for the quarter, missing the consensus estimate of C$0.48 by C($0.01). The company had revenue of C$1.57 billion during the quarter, compared to the consensus estimate of C$1.61 billion. As a group, research analysts forecast that Brookfield Asset Management Ltd. will post 2.5564428 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently announced 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 was Friday, August 30th. This represents a $2.10 annualized dividend and a dividend yield of 3.01%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.52. Brookfield Asset Management’s payout ratio is currently 136.67%.

Insider Activity at Brookfield Asset Management

In other Brookfield Asset Management news, Director Brian William Kingston sold 281,250 shares of Brookfield Asset Management 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 other Brookfield Asset Management news, Senior Officer Anuj Ranjan sold 112,500 shares of the firm’s stock in a transaction on 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. Also, Director Brian William Kingston sold 281,250 shares of Brookfield Asset Management stock in a transaction on 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. 14.10% of the stock is currently owned by 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.