Brookfield Asset Management (TSE:BAM) Stock Passes Above 200-Day Moving Average – Should You Sell?

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$65.08 and traded as high as C$80.20. Brookfield Asset Management shares last traded at C$80.08, with a volume of 607,157 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAM. Wells Fargo & Company upgraded shares of Brookfield Asset Management to a “strong sell” rating in a report on Thursday, September 12th. 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 company’s fifty day moving average is C$78.99 and its 200 day moving average is C$65.08. The stock has a market cap of C$33.54 billion and a PE ratio of 53.39. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 6.32.

Brookfield Asset Management Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Asset Management’s dividend payout ratio is presently 136.67%.

Insider Activity

In related news, Director Justin B. Beber sold 25,000 shares of Brookfield Asset Management stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of C$83.87, for a total value 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.