Brookfield Asset Management (TSE:BAM) Hits New 52-Week High – Here’s What Happened

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s stock price hit a new 52-week high on Thursday . The stock traded as high as C$89.91 and last traded at C$88.83, with a volume of 154972 shares changing hands. The stock had previously closed at C$88.51.

Analyst Upgrades and Downgrades

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

Brookfield Asset Management Stock Down 1.2 %

The stock has a market cap of C$36.43 billion and a P/E ratio of 57.99. The firm has a 50 day simple moving average of C$80.55 and a two-hundred day simple moving average of C$68.38. 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 quarterly earnings data on Monday, November 4th. The company reported C$0.52 earnings per share for the quarter, topping the consensus estimate of C$0.49 by C$0.03. During the same quarter last year, the company posted $0.47 earnings per share. Equities research analysts predict that Brookfield Asset Management Ltd. will post 2.5564428 earnings per share for the current year.

Brookfield Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 dividend yield of 1.75%. Brookfield Asset Management’s dividend payout ratio is presently 136.67%.

Insiders Place Their Bets

In other Brookfield Asset Management news, Director Justin B. Beber sold 25,000 shares of the business’s stock in a transaction dated 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. 14.10% of the stock is currently owned by insiders.

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.