Brookfield Asset Management (TSE:BAM) Shares Cross Above 200 Day Moving Average – Here’s Why

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$66.10 and traded as high as C$72.40. Brookfield Asset Management shares last traded at C$71.10, with a volume of 1,694,477 shares changing hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada raised Brookfield Asset Management to a “moderate buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of C$75.00.

Brookfield Asset Management Stock Performance

The company has a current ratio of 2.97, a quick ratio of 0.95 and a debt-to-equity ratio of 54.43. The company has a market cap of C$114.95 billion, a P/E ratio of 41.36, a price-to-earnings-growth ratio of 0.43 and a beta of 1.32. The company has a 50 day moving average price of C$68.31 and a 200-day moving average price of C$66.14.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a $0.5025 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, May 29th. Brookfield Asset Management’s payout ratio is currently 108.05%.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager, headquartered in New York, with over $1 trillion of assets under management across infrastructure, energy, private equity, real estate, and credit. We invest client capital for the long-term with a focus on real assets and essential service businesses that form the backbone of the global economy. We offer a range of alternative investment products to investors around the world – including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.