Brookfield Asset Management (TSE:BAM) Stock Passes Above Two Hundred 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's share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Analyst Ratings Changes

Separately, National Bank Financial raised 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 company. Based on 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 company has a fifty day simple moving average of C$82.30 and a two-hundred day simple moving average of C$76.69. The company has a market capitalization of C$126.58 billion and a P/E ratio of 54.87.

Brookfield Asset Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 29th. Brookfield Asset Management's payout ratio is currently 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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