Brookfield Asset Management (TSE:BAM) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Brookfield Asset Management's stock price recently surpassed its 200-day moving average, reaching C$79.22 during trading, with the last recorded price at C$78.47.
• National Bank Financial upgraded Brookfield to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" with an average price target of C$79.00.
• The company declared a quarterly dividend of $0.4375 per share, leading to an annualized dividend of $1.75 and a yield of 2.2%, though its payout ratio stands at 114.34%.

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$76.69 and traded as high as C$79.22. Brookfield Asset Management shares last traded at C$78.47, with a volume of 1,423,958 shares changing hands.

Wall Street Analyst Weigh In

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

Brookfield Asset Management Stock Performance

The firm has a 50-day moving average of C$82.50 and a 200-day moving average of C$76.61. The firm has a market capitalization of C$130.53 billion and a P/E ratio of 56.59.

Brookfield Asset Management Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.2%. Brookfield Asset Management's dividend payout ratio is presently 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.