Brookfield Asset Management (TSE:BAM) Stock Price Down 6.1% – Here’s Why

Brookfield Asset Management Ltd. (TSE:BAM) (NYSE:BAM) shares were down 6.1% during trading on Thursday . The stock traded as low as C$71.74 and last traded at C$72.66. Approximately 116,376 shares changed hands during trading, a decline of 89% from the average daily volume of 1,045,395 shares. The stock had previously closed at C$77.41.

Wall Street Analysts Forecast Growth

BAM has been the topic of a number of research reports. UBS Group restated a “buy” rating on shares of Brookfield Asset Management in a research note on Monday, December 16th. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th.

Brookfield Asset Management Trading Down 2.9 %

The stock has a market capitalization of C$82.02 billion and a PE ratio of 24.04. The stock has a 50 day moving average price of C$81.08 and a 200-day moving average price of C$72.85.

Brookfield Asset Management Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a $0.4375 dividend. This is an increase from Brookfield Asset Management’s previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, February 28th. Brookfield Asset Management’s dividend payout ratio (DPR) is 70.53%.

Insider Transactions at Brookfield Asset Management

In related news, Director Justin B. Beber sold 25,000 shares of Brookfield Asset Management stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of C$83.87, for a total transaction of C$2,096,630.00. Company 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.