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

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$81.70 and last traded at C$81.52, with a volume of 1725651 shares changing hands. The stock had previously closed at C$78.42.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised Brookfield Asset Management to a “strong sell” rating in a research note on Thursday, September 12th.

Brookfield Asset Management Stock Performance

The business’s fifty day simple moving average is C$70.10 and its 200-day simple moving average is C$59.84. The firm has a market cap of C$34.07 billion and a P/E ratio of 52.28. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s payout ratio is 136.67%.

Insider Transactions at Brookfield Asset Management

In other Brookfield Asset Management news, Director Brian William Kingston sold 281,250 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$64.40, for a total transaction of C$18,111,093.75. Corporate insiders own 14.10% 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.