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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $47.14 and traded as high as $54.85. Brookfield Asset Management shares last traded at $54.59, with a volume of 522,833 shares changing hands.

Wall Street Analyst Weigh In

BAM has been the subject of several analyst reports. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group raised their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company boosted their target price on Brookfield Asset Management from $51.00 to $56.00 and gave the stock an “underweight” rating in a report on Thursday, December 12th. Finally, UBS Group began coverage on Brookfield Asset Management in a report on Monday, December 16th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.54.

Brookfield Asset Management Price Performance

The firm has a market cap of $24.19 billion, a P/E ratio of 48.31, a PEG ratio of 2.43 and a beta of 1.41. The company’s 50 day moving average is $55.68 and its two-hundred day moving average is $47.14.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. During the same quarter last year, the company earned $0.35 EPS. Research analysts predict that Brookfield Asset Management Ltd. will post 1.47 EPS for the current year.

Brookfield Asset Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, November 29th. Brookfield Asset Management’s dividend payout ratio (DPR) is presently 134.51%.

Hedge Funds Weigh In On Brookfield Asset Management

A number of hedge funds and other institutional investors have recently made changes to their positions in BAM. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Asset Management by 68.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,859,094 shares of the financial services provider’s stock worth $260,770,000 after buying an additional 2,788,611 shares in the last quarter. Mackenzie Financial Corp grew its position in Brookfield Asset Management by 19.5% during the 2nd quarter. Mackenzie Financial Corp now owns 13,523,306 shares of the financial services provider’s stock worth $514,867,000 after acquiring an additional 2,205,040 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Brookfield Asset Management during the 2nd quarter valued at $42,160,000. TD Asset Management Inc raised its position in Brookfield Asset Management by 8.5% in the 2nd quarter. TD Asset Management Inc now owns 13,552,736 shares of the financial services provider’s stock valued at $515,823,000 after purchasing an additional 1,066,015 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Brookfield Asset Management by 66.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,965,162 shares of the financial services provider’s stock worth $92,896,000 after purchasing an additional 784,250 shares in the last quarter. 68.41% of the stock is owned by institutional investors.

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.