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

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$65.87 and traded as high as C$79.47. Brookfield Asset Management shares last traded at C$79.28, with a volume of 467,996 shares changing hands.

Analysts Set New Price Targets

Separately, UBS Group reaffirmed a “buy” rating on shares of Brookfield Asset Management in a research report on Monday, December 16th.

Brookfield Asset Management Price Performance

The firm has a market capitalization of C$33.66 billion and a P/E ratio of 53.57. The company has a fifty day moving average of C$79.25 and a 200 day moving average of C$66.15. The company has a debt-to-equity ratio of 6.32, a current ratio of 0.85 and a quick ratio of 0.95.

Brookfield Asset Management Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is currently 136.67%.

Insider Buying and Selling

In related news, Director Justin B. Beber sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of C$83.87, for a total transaction of C$2,096,630.00. 14.10% of the stock is owned by insiders.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.