Brookfield Asset Management (NYSE:BAM) Hits New 52-Week High - Should You Buy?

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A's stock price hit a new 52-week high on Thursday . The stock traded as high as $61.51 and last traded at $61.33, with a volume of 1268222 shares traded. The stock had previously closed at $61.09.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the company a "buy" rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target on Brookfield Asset Management from $56.00 to $55.00 and set an "underweight" rating for the company in a report on Tuesday, January 14th. TD Securities increased their price objective on Brookfield Asset Management from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Royal Bank of Canada upped their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Finally, Scotiabank boosted their price objective on shares of Brookfield Asset Management from $55.50 to $59.50 and gave the company a "sector outperform" rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Brookfield Asset Management presently has an average rating of "Hold" and an average price target of $56.13.

Brookfield Asset Management Trading Down 1.0 %

The firm's 50 day moving average price is $56.22 and its two-hundred day moving average price is $49.76. The company has a market capitalization of $26.91 billion, a P/E ratio of 53.74, a PEG ratio of 2.15 and a beta of 1.45.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same quarter last year, the company posted $0.35 earnings per share. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.45 earnings per share for the current fiscal year.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a $0.38 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a yield of 2.50%. Brookfield Asset Management's dividend payout ratio is currently 134.51%.

Institutional Trading of Brookfield Asset Management

Several institutional investors have recently added to or reduced their stakes in BAM. Tandem Capital Management Corp ADV increased its stake in Brookfield Asset Management by 0.4% in the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock valued at $2,119,000 after acquiring an additional 175 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Brookfield Asset Management by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 46,513 shares of the financial services provider's stock worth $2,201,000 after buying an additional 188 shares during the period. Procyon Advisors LLC raised its holdings in Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock worth $505,000 after purchasing an additional 249 shares during the last quarter. Pathstone Holdings LLC raised its stake in Brookfield Asset Management by 1.0% during the third quarter. Pathstone Holdings LLC now owns 29,166 shares of the financial services provider's stock worth $1,379,000 after buying an additional 278 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of Brookfield Asset Management by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 6,654 shares of the financial services provider's stock valued at $315,000 after purchasing an additional 315 shares during the period. 68.41% of the stock is currently owned by institutional investors.

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.