Brookfield Asset Management (TSE:BAM) Shares Cross Above Two Hundred Day Moving Average of $54.95

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$54.95 and traded as high as C$60.13. Brookfield Asset Management shares last traded at C$60.08, with a volume of 1,377,617 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised shares of Brookfield Asset Management to a “strong sell” rating in a report on Thursday.

Brookfield Asset Management Price Performance

The company has a debt-to-equity ratio of 6.32, a quick ratio of 0.95 and a current ratio of 0.85. The stock has a market capitalization of C$25.52 billion and a PE ratio of 41.01. The stock’s 50 day moving average is C$55.91 and its two-hundred day moving average is C$54.99.

Brookfield Asset Management (TSE:BAM) (NYSE:BAM) last released its earnings results on Wednesday, August 7th. The company reported C$0.47 earnings per share for the quarter, missing the consensus estimate of C$0.48 by C($0.01). The firm had revenue of C$1.57 billion during the quarter, compared to analyst estimates of C$1.61 billion. On average, equities analysts anticipate that Brookfield Asset Management Ltd. will post 2.4875856 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.525 per share. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, August 30th. This represents a $2.10 dividend on an annualized basis and a dividend yield of ∞. Brookfield Asset Management’s dividend payout ratio is presently 138.51%.

Insider Transactions at Brookfield Asset Management

In other Brookfield Asset Management news, Senior Officer Anuj Ranjan sold 112,500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$39.63, for a total value of C$4,458,375.00. In other news, Senior Officer Anuj Ranjan sold 112,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of C$39.63, for a total transaction of C$4,458,375.00. Also, Director Justin B. Beber sold 43,937 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$37.98, for a total transaction of C$1,668,727.26. Insiders own 14.29% of the company’s stock.

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.