Brookfield Asset Management (NYSE:BAM) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

BAM has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. National Bank Financial lifted their target price on Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Royal Bank Of Canada dropped their target price on Brookfield Asset Management from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Scotia increased their price target on shares of Brookfield Asset Management from $57.00 to $59.00 and gave the stock a “sector outperform” rating in a research report on Thursday, August 6th. Finally, Piper Sandler restated a “neutral” rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.32.

Brookfield Asset Management Price Performance

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 50 day moving average price is $49.00 and its two-hundred day moving average price is $47.86. The firm has a market capitalization of $85.36 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 2.13 and a beta of 1.26.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Brookfield Asset Management had a return on equity of 31.50% and a net margin of 48.89%.The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Analysts anticipate that Brookfield Asset Management Ltd. will post 1.78 EPS for the current fiscal year.

Brookfield Asset Management Announces Dividend

The company 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 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, August 31st. Brookfield Asset Management’s payout ratio is currently 116.86%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of Brookfield Asset Management during the 1st quarter worth $235,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Brookfield Asset Management by 10.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,050 shares of the financial services provider’s stock worth $12,648,000 after purchasing an additional 24,013 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Brookfield Asset Management by 24.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,512 shares of the financial services provider’s stock valued at $139,000 after buying an additional 497 shares in the last quarter. Cerity Partners LLC raised its holdings in Brookfield Asset Management by 17.6% during the second quarter. Cerity Partners LLC now owns 34,666 shares of the financial services provider’s stock valued at $1,916,000 after buying an additional 5,184 shares in the last quarter. Finally, State Street Corp raised its holdings in Brookfield Asset Management by 11,172.2% during the second quarter. State Street Corp now owns 3,524,700 shares of the financial services provider’s stock valued at $194,845,000 after buying an additional 3,493,431 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

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.