Brookfield Asset Management (NYSE:BAM) Shares Cross Above 50 Day Moving Average - Here's Why

Key Points

• Brookfield Asset Management shares moved above their 50-day moving average, reaching $47.48 compared with the $47.32 average, while last trading at $47.4080.
• Analyst opinions are mixed, but the stock carries a consensus “Moderate Buy” rating and an average price target of $57.03, implying potential upside from current levels.
• The company reported quarterly EPS and revenue slightly above analyst expectations and pays a quarterly dividend of $0.5025 per share, equivalent to a 4.2% annualized yield.

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A's stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $47.32 and traded as high as $47.48. Brookfield Asset Management shares last traded at $47.4080, with a volume of 2,624,466 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BAM. Bank of America reduced their price target on Brookfield Asset Management from $61.00 to $60.00 and set a "neutral" rating for the company in a report on Monday, October 5th. Scotia upped their price objective on Brookfield Asset Management from $57.00 to $59.00 and gave the company a "sector outperform" rating in a research note on Thursday, August 6th. Wall Street Zen cut Brookfield Asset Management from a "hold" rating to a "sell" rating in a research report on Saturday, October 17th. National Bank Financial raised their price objective on Brookfield Asset Management from $69.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Brookfield Asset Management from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of "Moderate Buy" and an average target price of $57.03.

Brookfield Asset Management Price Performance

The company's 50-day moving average price is $47.32 and its two-hundred day moving average price is $47.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $77.67 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 1.99 and a beta of 1.31.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.47 billion. As a group, sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.77 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were given a dividend of $0.5025 per share. The ex-dividend date was Monday, August 31st. This represents a $2.01 annualized dividend and a yield of 4.2%. Brookfield Asset Management's dividend payout ratio (DPR) is 116.86%.

Institutional Investors Weigh In On Brookfield Asset Management

A number of institutional investors have recently made changes to their positions in BAM. MGO One Seven LLC raised its stake in Brookfield Asset Management by 7.9% in the 3rd quarter. MGO One Seven LLC now owns 5,096 shares of the financial services provider's stock worth $227,000 after purchasing an additional 371 shares in the last quarter. Greenup Street Wealth Management LLC grew its position in shares of Brookfield Asset Management by 23.2% during the 3rd quarter. Greenup Street Wealth Management LLC now owns 6,032 shares of the financial services provider's stock worth $269,000 after purchasing an additional 1,135 shares in the last quarter. Schwartz Investment Counsel Inc. grew its position in shares of Brookfield Asset Management by 30.4% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 9,000 shares of the financial services provider's stock worth $401,000 after purchasing an additional 2,100 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Brookfield Asset Management by 3.1% during the third quarter. Signaturefd LLC now owns 8,330 shares of the financial services provider's stock worth $371,000 after purchasing an additional 253 shares during the period. Finally, Evergreen Capital Management LLC increased its holdings in shares of Brookfield Asset Management by 33.8% during the third quarter. Evergreen Capital Management LLC now owns 9,649 shares of the financial services provider's stock worth $430,000 after purchasing an additional 2,440 shares during the period. Institutional investors own 68.41% of the company's stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. NYSE: BAM is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.

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