Brookfield Asset Management (TSE:BAM) Hits New 52-Week High – What’s Next?

by · The Markets Daily

Brookfield Asset Management Ltd. (TSE:BAM – Get Free Report) (NYSE:BAM)’s share price hit a new 52-week high 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.

Analysts Set New Price Targets

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

Read Our Latest Stock Report on BAM

Brookfield Asset Management Trading Up 2.8 %

The company has a market cap of C$31.96 billion and a P/E ratio of 52.43. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 6.32. The firm’s 50 day moving average is C$62.81 and its two-hundred day moving average is C$57.28.

Brookfield Asset Management (TSE:BAM – Get Free Report) (NYSE:BAM) last released its earnings results on Wednesday, August 7th. The company reported C$0.47 earnings per share (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 for the quarter, compared to analyst estimates of C$1.61 billion. As a group, equities 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 issued a $0.525 dividend. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, August 30th. This represents a $2.10 annualized dividend and a yield of 2.75%. Brookfield Asset Management’s payout ratio is presently 136.67%.

Insider Activity

In other 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 transaction of C$18,111,093.75. 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 14.10% of the company’s stock.

About Brookfield Asset Management

(Get Free Report)

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.

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