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

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$73.47 and last traded at C$73.37, with a volume of 18684 shares changing hands. The stock had previously closed at C$72.91.

Analyst Ratings Changes

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

Brookfield Asset Management Stock Up 1.8 %

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 has a market cap of C$31.07 billion and a P/E ratio of 48.61. The business's fifty day moving average is C$60.80 and its two-hundred day moving average is C$56.67.

Brookfield Asset Management (TSE:BAM - Get Free Report) NYSE: BAM last issued 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 analyst estimates of C$1.61 billion. Equities analysts predict 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. Shareholders of record on Friday, September 27th were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.10 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.52. Brookfield Asset Management's dividend payout ratio is currently 136.67%.

Insider Activity

In other Brookfield Asset Management news, Senior Officer Anuj Ranjan sold 112,500 shares of the stock in a transaction dated 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. In other news, Senior Officer Anuj Ranjan sold 112,500 shares of the company'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 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 value of C$18,111,093.75. Company insiders own 14.10% 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.