Brookfield Asset Management (TSE:BAM) Hits New 12-Month High – Still a Buy?

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

Analysts Set New Price Targets

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 Down 1.3 %

The company has a market capitalization of C$33.64 billion and a PE ratio of 53.55. The company’s fifty day moving average is C$71.03 and its 200-day moving average is C$60.21. 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.38 per share. The ex-dividend date is Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. Brookfield Asset Management’s payout ratio is 136.67%.

Insider Transactions at Brookfield Asset Management

In other news, Director Brian William Kingston sold 281,250 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of C$64.40, for a total value 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.