Brookfield Asset Management (TSE:BAM) Share Price Passes 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's stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 trading hands.

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 research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus price target of C$79.00.

Brookfield Asset Management Trading Up 1.1%

The business has a fifty day simple moving average of C$82.94 and a two-hundred day simple moving average of C$76.83. The stock has a market cap of C$138.52 billion and a PE ratio of 60.05.

Brookfield Asset Management Dividend Announcement

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 given a $0.4375 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Asset Management's payout ratio is currently 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.