Brookfield Asset Management (TSE:BAM) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• BROOKFIELD ASSET MANAGEMENT shares crossed above their 200-day moving average during trading, reaching a high of C$81.69 before closing at C$80.77.
• National Bank Financial upgraded the stock to a "strong-buy" rating, contributing to a consensus rating of "Buy" with an average price target of C$79.00.
• The company declared a quarterly dividend of $0.4375 per share, representing a 2.2% annual yield, despite a high payout ratio of 114.34%.

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$76.93 and traded as high as C$81.69. Brookfield Asset Management shares last traded at C$80.77, with a volume of 1,585,603 shares traded.

Analyst Upgrades and Downgrades

Separately, National Bank Financial upgraded shares of Brookfield Asset Management to a "strong-buy" rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of C$79.00.

Brookfield Asset Management Stock Down 3.0%

The firm has a market capitalization of C$126.28 billion and a PE ratio of 54.74. The stock has a 50-day simple moving average of C$82.13 and a 200-day simple moving average of C$76.74.

Brookfield Asset Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be given a $0.4375 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.75 annualized dividend and a yield of 2.2%. Brookfield Asset Management's payout ratio is presently 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.