Brookfield Asset Management (TSE:BAM) Hits New 52-Week High – Time to Buy?

21 Oct 2024, 14:40 by Danessa Lincoln · The Markets Daily

Brookfield Asset Management Ltd. (TSE:BAM – Get Free Report) (NYSE:BAM) hit a new 52-week high during trading on Monday . The stock traded as high as C$71.38 and last traded at C$71.35, with a volume of 10765 shares changing hands. The stock had previously closed at C$71.15.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on BAM

Brookfield Asset Management Trading Up 0.2 %

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 company’s 50 day moving average price is C$59.76 and its 200 day moving average price is C$56.29. The company has a market cap of C$29.86 billion and a price-to-earnings ratio of 47.43.

Brookfield Asset Management (TSE:BAM – Get Free Report) (NYSE:BAM) last posted its earnings results 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 business had revenue of C$1.57 billion during the quarter, compared to the consensus estimate of C$1.61 billion. Research analysts anticipate that Brookfield Asset Management Ltd. will post 2.5564428 EPS for the current year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were paid a $0.525 dividend. The ex-dividend date of this dividend 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 2.95%. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 136.67%.

Insiders Place Their Bets

In other news, Director Brian William Kingston sold 281,250 shares of the firm’s stock in a transaction dated 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, Senior Officer Anuj Ranjan sold 112,500 shares of the company’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. Also, Director Brian William Kingston sold 281,250 shares of the firm’s stock in a transaction on 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. Company insiders own 14.10% of the company’s stock.

About Brookfield Asset Management

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