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

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM's share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$67.94 and last traded at C$67.64, with a volume of 7387 shares changing hands. The stock had previously closed at C$66.88.

Analysts Set New Price Targets

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

Brookfield Asset Management Trading Up 0.4 %

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's fifty day simple moving average is C$59.16 and its 200-day simple moving average is C$56.01. The stock has a market cap of C$28.12 billion and a P/E ratio of 45.49.

Brookfield Asset Management (TSE:BAM - Get Free Report) NYSE: BAM last released its quarterly 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 business had revenue of C$1.57 billion for the quarter, compared to analysts' expectations of C$1.61 billion. Equities research analysts expect that Brookfield Asset Management Ltd. will post 2.4747786 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were issued a dividend of $0.525 per share. 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 3.13%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 138.51%.

Insiders Place Their Bets

In other news, Director Brian William Kingston sold 281,250 shares of the firm's stock in a transaction that occurred 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 Brookfield Asset Management 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 Brookfield Asset Management 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 14.11% of the company's stock.

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.