Brookfield Asset Management (TSE:BAM) Share Price Passes Above 200-Day Moving Average - Time to 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's share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group reduced their price target on Brookfield Asset Management from C$96.00 to C$90.00 in a research note on Thursday, May 1st. National Bank Financial raised Brookfield Asset Management to a "strong-buy" rating in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Brookfield Asset Management presently has an average rating of "Buy" and an average target price of C$79.00.

Brookfield Asset Management Trading Down 1.3%

The firm has a market capitalization of C$97.83 billion and a PE ratio of 28.67. The firm has a 50-day moving average of C$80.83 and a two-hundred day moving average of C$76.81.

Brookfield Asset Management Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be given a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's dividend payout ratio (DPR) is 70.53%.

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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