Brookfield Asset Management (TSE:BAM) Hits New 12-Month High – Here’s What Happened

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) shares reached a new 52-week high during 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 trading hands. The stock had previously closed at C$72.91.

Analyst Ratings Changes

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

Brookfield Asset Management Trading Up 0.5 %

The stock has a market capitalization of C$31.22 billion and a P/E ratio of 49.69. The stock’s fifty day moving average price is C$61.61 and its two-hundred day moving average price is C$56.92. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 6.32.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last posted 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 analyst estimates of C$1.61 billion. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 2.5564428 EPS for the current year.

Brookfield Asset Management Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.10 annualized dividend and a yield of 2.82%. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.52. Brookfield Asset Management’s payout ratio is presently 136.67%.

Insider Transactions at Brookfield Asset Management

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. In other Brookfield Asset Management news, Senior Officer Anuj Ranjan sold 112,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$39.63, for a total value of C$4,458,375.00. Also, Director Brian William Kingston sold 281,250 shares of the business’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 value of C$18,111,093.75. Company insiders own 14.10% of the company’s stock.

About Brookfield Asset Management

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.