Brookfield Asset Management (TSE:BAM) Sets New 52-Week High – Should You Buy?

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) shares reached a new 52-week high during mid-day trading on Friday . The stock 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 restated a “buy” rating on shares of Brookfield Asset Management in a research note on Monday, December 16th.

Brookfield Asset Management Stock Performance

The firm has a market capitalization of C$36.02 billion and a price-to-earnings ratio of 57.33. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 6.32. The stock’s fifty day moving average is C$79.62 and its two-hundred day moving average is C$67.18.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last issued its 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 prior year, the firm earned $0.47 earnings per share. On average, analysts predict that Brookfield Asset Management Ltd. will post 2.5564428 earnings per share for the current year.

Brookfield Asset Management Cuts Dividend

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

Insider Activity at Brookfield Asset Management

In related news, Director Justin B. Beber sold 25,000 shares of the company’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 owned by company insiders.

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.