Brookfield Asset Management (TSE:BAM) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• B
Brookfield Asset Management's stock price crossed above its 200-day moving average of C$77.35, reaching a high of C$82.07 before closing at C$81.11.
• National Bank Financial upgraded the stock to a "strong-buy" rating, contributing to an overall average rating of "Strong Buy" from analysts with a price target of C$79.00.
• The company recently announced a quarterly dividend of $0.4375 per share, resulting in an annualized yield of 2.2% with a payout ratio of 114.34%.

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$77.35 and traded as high as C$82.07. Brookfield Asset Management shares last traded at C$81.11, with a volume of 2,891,992 shares trading hands.

Wall Street Analyst Weigh In

Separately, National Bank Financial raised Brookfield Asset Management to a "strong-buy" rating in a research report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, Brookfield Asset Management presently has an average rating of "Strong Buy" and an average price target of C$79.00.

Brookfield Asset Management Trading Up 0.2%

The business has a fifty day moving average of C$82.95 and a 200-day moving average of C$77.35. The firm has a market cap of C$130.84 billion and a PE ratio of 56.72.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a yield of 2.2%. Brookfield Asset Management's dividend payout ratio is 114.34%.

About Brookfield Asset Management

Brookfield Corp, formerly Brookfield Asset Management Inc owns and manages the commercial property, power, and infrastructure assets. Its investment focus includes Real Estate, Infrastructure, Renewable Power and Private Equity. Real Estate is made up of office and retail properties; Renewable power is made up of hydroelectric, wind, solar, and storage generating facilities; Infrastructure is made up of utilities, transport, energy, data infrastructure, and sustainable resource assets; and Private Equity is focused on business services, infrastructure services, and industrial operations.

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