Brookfield Asset Management (TSE:BAM) Stock Price Passes Above Two Hundred 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 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 trading hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group reiterated a “buy” rating on shares of Brookfield Asset Management in a research note 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 quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 6.32. The business’s 50 day moving average is C$79.25 and its 200-day moving average is C$66.15.

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 paid a $0.38 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.52 annualized dividend and a dividend yield of 1.89%. Brookfield Asset Management’s payout ratio is 136.67%.

Insider Buying and Selling

In related news, Director Justin B. Beber sold 25,000 shares of Brookfield Asset Management stock in a transaction that occurred 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. 14.10% of the stock is owned by corporate insiders.

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.