Brookfield Asset Management (TSE:BAM) Lifted to Strong Sell at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Brookfield Asset Management (TSE:BAM) (NYSE:BAM) to a strong sell rating in a research report report published on Thursday, Zacks.com reports.

Brookfield Asset Management Trading Up 1.2 %

TSE:BAM opened at C$60.69 on Thursday. The firm has a 50-day simple moving average of C$55.91 and a 200-day simple moving average of C$54.99. Brookfield Asset Management has a one year low of C$39.38 and a one year high of C$61.22. The firm has a market cap of C$25.42 billion and a P/E ratio of 41.01. The company has a debt-to-equity ratio of 6.32, a quick ratio of 0.95 and a current ratio of 0.85.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last posted its earnings results on Wednesday, August 7th. The company reported C$0.47 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.48 by C($0.01). The business had revenue of C$1.57 billion during the quarter, compared to the consensus estimate of C$1.61 billion. Equities analysts anticipate that Brookfield Asset Management will post 2.4875856 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.52. This represents a $2.10 dividend on an annualized basis and a yield of 3.46%. Brookfield Asset Management’s payout ratio is currently 138.51%.

Insider Activity

In related news, Director Justin B. Beber sold 43,937 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$37.98, for a total transaction of C$1,668,727.26. 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 stock was sold at an average price of C$39.63, for a total value of C$4,458,375.00. Also, Director Justin B. Beber sold 43,937 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$37.98, for a total value of C$1,668,727.26. Company insiders own 14.29% 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.