Brookfield Asset Management (TSE:BAM) Hits New 52-Week High - What's Next?

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM recently achieved a new 52-week high on Friday, reaching as much as C$84.33 during trading. The stock closed at C$84.04 after trading a total of 44,223 shares, slightly above its previous closing price of C$83.83.

Analysts Set New Price Targets

In related news, UBS Group has reaffirmed a "buy" rating for shares of Brookfield Asset Management in a research report published on December 16th. This endorsement suggests a positive outlook for the stock moving forward.

Brookfield Asset Management Price Performance

The company's share price has experienced significant movement recently, reflecting its strong market position. Brookfield Asset Management has a 50-day moving average of C$79.48 while its 200-day moving average stands at C$66.96. The firm’s market capitalization is approximately C$35.87 billion, with a price-to-earnings (PE) ratio of 57.09. Additionally, the firm carries a debt-to-equity ratio of 6.32 and a current ratio of 0.85, indicating a solid financial standing.

On November 4th, Brookfield Asset Management reported its quarterly earnings results, showing an earnings per share (EPS) of C$0.52. This figure exceeded analysts' expectations, which were set at C$0.49. The company also showed year-over-year growth, as it posted an EPS of $0.47 during the same quarter last year. Analysts project that Brookfield will achieve a total EPS of approximately 2.56 for the current fiscal year.

Brookfield Asset Management Cuts Dividend

Recently, the company announced a quarterly dividend, which was paid out on December 31st. Shareholders who were on record as of November 29th received a dividend of $0.38 per share. This translates to an annualized dividend of $1.52, corresponding to a yield of 1.77%. It’s important to note that Brookfield Asset Management's dividend payout ratio currently stands at 136.67%, which indicates that the company's dividends might be influenced by profit levels.

Insider Transactions at Brookfield Asset Management

In other corporate news, Director Justin B. Beber sold 25,000 shares of the company on December 11th, with the shares sold at an average price of C$83.87. This transaction totaled C$2,096,630. Company insiders own approximately 14.10% of Brookfield's shares, which reflects a significant level of insider commitment.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. specializes in alternative asset management services within the real estate sector. It operates various businesses including renewable power, which encompasses hydroelectric, wind, and solar energy, alongside its infrastructure division that handles utilities, transport, and data infrastructure.

Should You Invest $1,000 in Brookfield Asset Management Right Now?

Before making any investment decisions regarding Brookfield Asset Management, it's advisable to consider the broader market context. Currently, Brookfield is rated as a "Hold" among analysts, who believe there are alternative investment opportunities that may yield better returns.

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