Brookfield Asset Management (TSE:BAM) Sets New 1-Year High – Here’s Why

Shares of Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) reached a new 52-week high during trading on Monday . The stock traded as high as C$80.55 and last traded at C$80.19, with a volume of 155151 shares changing hands. The stock had previously closed at C$78.49.

Analyst Ratings Changes

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

Brookfield Asset Management Stock Performance

The stock’s 50-day moving average is C$66.02 and its 200-day moving average is C$58.33. The stock has a market cap of C$33.19 billion and a price-to-earnings ratio of 52.90. The company has a debt-to-equity ratio of 6.32, a current ratio of 0.85 and a quick ratio of 0.95.

Brookfield Asset Management Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 136.67%.

Insider Activity

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 transaction of C$18,111,093.75. Corporate insiders own 14.10% of the company’s stock.

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.