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

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

Wall Street Analyst Weigh In

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

Brookfield Asset Management Stock Performance

The firm’s 50 day simple moving average is C$79.48 and its 200 day simple moving average is C$66.96. The firm has a market cap of C$35.87 billion and a PE ratio of 57.09. 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 earnings results on Monday, November 4th. The company reported C$0.52 EPS for the quarter, topping analysts’ consensus estimates of C$0.49 by C$0.03. During the same period in the previous year, the company earned $0.47 earnings per share. On average, research analysts forecast that Brookfield Asset Management Ltd. will post 2.5564428 EPS for the current fiscal year.

Brookfield Asset Management Cuts Dividend

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

Insider Buying and Selling

In related news, Director Justin B. Beber sold 25,000 shares of the 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 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.