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

Shares of Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$62.99 and traded as high as C$78.81. Brookfield Asset Management shares last traded at C$78.68, with a volume of 354,137 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BAM. 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 research report on Thursday, September 12th.

Brookfield Asset Management Trading Up 0.5 %

The business has a 50-day moving average of C$76.36 and a 200-day moving average of C$62.99. The company has a debt-to-equity ratio of 6.32, a current ratio of 0.85 and a quick ratio of 0.95. The firm has a market cap of C$32.96 billion and a price-to-earnings ratio of 52.45.

Brookfield Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Asset Management’s payout ratio is presently 136.67%.

Insiders Place Their Bets

In other Brookfield Asset Management news, Director Justin B. Beber sold 25,000 shares of the business’s stock in a transaction that occurred on 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. 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.