Brookfield Asset Management (NYSE:BAM) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) shares crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $47.32 and traded as high as $47.48. Brookfield Asset Management shares last traded at $47.4080, with a volume of 2,624,466 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley set a $54.00 price target on Brookfield Asset Management in a report on Friday, October 16th. Royal Bank Of Canada set a $65.00 target price on shares of Brookfield Asset Management and gave the company an “outperform” rating in a report on Friday, September 18th. Scotiabank restated an “outperform” rating and set a $59.00 target price on shares of Brookfield Asset Management in a research note on Thursday, August 6th. National Bank Financial lifted their price objective on shares of Brookfield Asset Management from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Bank of America dropped their price target on Brookfield Asset Management from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.03.

Brookfield Asset Management Price Performance

The stock has a market cap of $79.11 billion, a price-to-earnings ratio of 27.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.31. The stock’s 50 day moving average price is $47.17 and its two-hundred day moving average price is $47.85. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.06.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.47 billion. Equities research analysts forecast that Brookfield Asset Management Ltd. will post 1.77 EPS for the current fiscal year.

Brookfield Asset Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were paid a $0.5025 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, August 31st. Brookfield Asset Management’s payout ratio is currently 116.86%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont acquired a new stake in shares of Brookfield Asset Management in the 2nd quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Brookfield Asset Management during the third quarter valued at about $26,000. Compass Financial Management LLC acquired a new stake in Brookfield Asset Management in the 2nd quarter valued at approximately $27,000. Allied Private Wealth LLC purchased a new stake in shares of Brookfield Asset Management in the 2nd quarter valued at $40,000. Finally, Root Financial Partners LLC purchased a new position in shares of Brookfield Asset Management in the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 68.41% of the company’s stock.

About Brookfield Asset Management

Brookfield Asset Management Ltd. (NYSE: BAM) is a global alternative asset manager that invests in and manages assets on behalf of institutional investors, insurance companies, sovereign wealth funds, financial institutions and private-wealth clients. The company focuses on long-term investments in real assets and businesses, with an emphasis on sectors supported by essential services, economic growth and the transition to a lower-carbon economy.

Its investment activities span renewable power and transition, infrastructure, private equity, real estate and credit.