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

Key Points

• Brookfield Asset Management's stock price crossed above its 200-day moving average, reaching a high of C$81.92 during trading, indicating a bullish trend.
• National Bank Financial upgraded the stock to a "strong-buy" rating, contributing to its overall consensus rating of "Strong Buy" with a price target of C$79.00.
• The company announced a quarterly dividend of $0.4375 per share, which results in an annualized yield of 2.2%, though its payout ratio is notably high at 114.34%.

Brookfield Asset Management Ltd. (TSE:BAM - Get Free Report) NYSE: BAM crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$77.70 and traded as high as C$81.92. Brookfield Asset Management shares last traded at C$80.88, with a volume of 605,345 shares changing hands.

Wall Street Analyst Weigh In

Separately, National Bank Financial raised shares of Brookfield Asset Management to a "strong-buy" rating in a research report 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.com, the company currently has a consensus rating of "Strong Buy" and a consensus price target of C$79.00.

Brookfield Asset Management Trading Up 0.4%

The company has a market capitalization of C$130.47 billion and a PE ratio of 56.56. The stock's 50-day moving average is C$82.26 and its two-hundred day moving average is C$77.70.

Brookfield Asset Management Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were given a dividend of $0.4375 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.2%. Brookfield Asset Management's dividend payout ratio (DPR) 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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