Brookfield Asset Management (TSE:BAM) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Brookfield Asset Management's share price recently crossed above its 200-day moving average, trading as high as C$85.23 before closing at C$83.33.
• Analysts have mixed opinions on the stock, with UBS Group reducing its price target to C$90, while National Bank Financial upgraded the stock to a "strong-buy" rating.
• The company announced a quarterly dividend of $0.4375, which will be paid on September 29th, offering a dividend yield of 2.1%.

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$76.81 and traded as high as C$85.23. Brookfield Asset Management shares last traded at C$83.33, with a volume of 2,854,973 shares.

Analyst Ratings Changes

Separately, National Bank Financial upgraded shares of 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, two have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$79.00.

Brookfield Asset Management Stock Down 1.1%

The firm has a fifty day simple moving average of C$81.52 and a 200-day simple moving average of C$76.89. The company has a market cap of C$133.33 billion and a PE ratio of 57.80.

Brookfield Asset Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.4375 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 annualized dividend and a dividend yield of 2.1%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 114.34%.

Brookfield Asset Management Company Profile

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.