Brookfield Asset Management (TSE:BAM) Hits New 1-Year High – What’s Next?

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) hit a new 52-week high on Friday . The company traded as high as C$84.33 and last traded at C$84.04, with a volume of 44223 shares traded. The stock had previously closed at C$83.83.

Analysts Set New Price Targets

Separately, UBS Group reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research report on Monday, December 16th.

Brookfield Asset Management Price Performance

The firm has a 50-day moving average of C$79.48 and a 200 day moving average of C$66.96. The company has a debt-to-equity ratio of 6.32, a current ratio of 0.85 and a quick ratio of 0.95. The company has a market capitalization of C$35.87 billion and a PE ratio of 57.09.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last announced its quarterly earnings results on Monday, November 4th. The company reported C$0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.49 by C$0.03. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, research analysts anticipate that Brookfield Asset Management Ltd. will post 2.5564428 earnings per share for the current fiscal year.

Brookfield Asset Management Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.52 dividend on an annualized basis and a yield of 1.77%. Brookfield Asset Management’s dividend payout ratio is presently 136.67%.

Insider Transactions at Brookfield Asset Management

In other Brookfield Asset Management news, Director Justin B. Beber sold 25,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of C$83.87, for a total value of C$2,096,630.00. 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.