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

Shares of Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$64.15 and traded as high as C$78.80. Brookfield Asset Management shares last traded at C$77.96, with a volume of 289,580 shares.

Wall Street Analyst Weigh In

BAM has been the subject of a number of recent analyst reports. UBS Group reissued a “buy” rating on shares of Brookfield Asset Management in a research report on Monday, December 16th. Wells Fargo & Company raised shares of Brookfield Asset Management to a “strong sell” rating in a report on Thursday, September 12th.

Brookfield Asset Management Stock Up 0.5 %

The company has a market cap of C$32.81 billion and a P/E ratio of 52.22. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 6.32. The company has a fifty day moving average of C$78.27 and a 200 day moving average of C$64.24.

Brookfield Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s payout ratio is currently 136.67%.

Insider Transactions at Brookfield Asset Management

In other news, Director Justin B. Beber sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$83.87, for a total transaction of C$2,096,630.00. Company insiders own 14.10% of the company’s stock.

About Brookfield Asset Management

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.