Brookfield Asset Management (NYSE:BAM) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $47.86 and traded as high as $52.74. Brookfield Asset Management shares last traded at $52.1050, with a volume of 1,467,388 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on BAM. Royal Bank Of Canada decreased their price target on shares of Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley set a $56.00 target price on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. National Bank Financial boosted their price target on Brookfield Asset Management from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, UBS Group boosted their price target on Brookfield Asset Management from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Brookfield Asset Management presently has an average rating of “Hold” and a consensus price target of $59.32.

Brookfield Asset Management Trading Up 0.1%

The stock has a market cap of $85.40 billion, a PE ratio of 30.31, a PEG ratio of 2.13 and a beta of 1.26. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $49.09 and its 200 day moving average price is $47.89.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.47 billion. On average, sell-side analysts forecast that Brookfield Asset Management Ltd. will post 1.78 EPS for the current year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.5025 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, August 31st. Brookfield Asset Management’s dividend payout ratio is presently 116.86%.

Institutional Investors Weigh In On Brookfield Asset Management

Several large investors have recently bought and sold shares of BAM. California State Teachers Retirement System grew its stake in shares of Brookfield Asset Management by 1,044.6% during the 2nd quarter. California State Teachers Retirement System now owns 239,903 shares of the financial services provider’s stock valued at $10,760,000 after purchasing an additional 218,944 shares during the period. HB Wealth Management LLC raised its stake in Brookfield Asset Management by 12.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,614 shares of the financial services provider’s stock worth $611,000 after acquiring an additional 1,517 shares during the period. Compass Financial Management LLC bought a new stake in shares of Brookfield Asset Management during the 2nd quarter valued at $27,000. TD Waterhouse Canada Inc. lifted its stake in shares of Brookfield Asset Management by 6.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,003,128 shares of the financial services provider’s stock valued at $227,422,000 after buying an additional 294,966 shares in the last quarter. Finally, Nykredit A S bought a new position in Brookfield Asset Management in the 2nd quarter worth $3,451,000. 68.41% of the stock is currently owned by institutional investors.

About Brookfield Asset Management

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.