Brookfield Asset Management (TSE:BAM) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Brokefield Asset Management's shares crossed above the 200-day moving average of C$77.95, trading as high as C$80.84.
• The company received an upgrade to a "strong-buy" rating from National Bank Financial, contributing to its current consensus rating of "Strong Buy" with an average price target of C$79.00.
• Brookfield announced a quarterly dividend of $0.4375 per share, resulting in an annualized dividend yield of 2.2%, despite a dividend 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$77.95 and traded as high as C$80.84. Brookfield Asset Management shares last traded at C$78.98, with a volume of 737,977 shares traded.

Analyst Upgrades and Downgrades

Separately, 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 and two have issued a Buy rating to the company. According to data from MarketBeat, Brookfield Asset Management currently has a consensus rating of "Strong Buy" and an average price target of C$79.00.

Brookfield Asset Management Price Performance

The firm has a market cap of C$127.40 billion and a price-to-earnings ratio of 55.23. The company has a fifty day moving average price of C$81.63 and a two-hundred day moving average price of C$77.95.

Brookfield Asset Management Announces Dividend

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

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