Brookfield Asset Management Ltd. Declares Quarterly Dividend of $0.38 (NYSE:BAM)

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.38 per share by the financial services provider on Tuesday, December 31st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, November 29th.

Brookfield Asset Management has a payout ratio of 88.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Brookfield Asset Management to earn $1.79 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 84.9%.

Brookfield Asset Management Trading Up 3.0 %

Shares of NYSE:BAM opened at $57.81 on Wednesday. The company’s 50 day moving average is $51.61 and its two-hundred day moving average is $44.24. Brookfield Asset Management has a 52 week low of $33.45 and a 52 week high of $58.53. The company has a market cap of $25.61 billion, a PE ratio of 51.16, a P/E/G ratio of 2.31 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last issued its earnings results on Monday, November 4th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $0.35 EPS. As a group, equities research analysts expect that Brookfield Asset Management will post 1.47 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on BAM shares. Wells Fargo & Company increased their price target on shares of Brookfield Asset Management from $48.00 to $51.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 5th. Bank of America increased their price target on shares of Brookfield Asset Management from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada increased their price target on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, BMO Capital Markets upped their price objective on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $53.46.

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.