Brookfield Asset Management (TSE:BAM) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Brookfield Asset Management Ltd. shares have surpassed their 200-day moving average, trading as high as C$85.00, with a last price of C$82.67.
• National Bank Financial upgraded Brookfield Asset Management to a "strong-buy" rating, reflecting positive sentiment among analysts, with an average target price of C$79.00.
• The company announced a quarterly dividend of $0.4375 per share, representing a 2.1% yield, with a payout ratio currently at 114.34%.

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$76.70 and traded as high as C$85.00. Brookfield Asset Management shares last traded at C$82.67, with a volume of 3,755,616 shares changing hands.

Analysts Set New Price Targets

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

Brookfield Asset Management Stock Up 0.1%

The company has a market cap of C$133.36 billion and a price-to-earnings ratio of 57.81. The company's fifty day moving average price is C$82.81 and its two-hundred day moving average price is C$76.70.

Brookfield Asset Management Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, August 29th. 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.