Brookfield Asset Management Ltd. (BAM) to Issue Quarterly Dividend of $0.38 on December 31st

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

Brookfield Asset Management has a dividend 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 tumble. Equities 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 Stock Up 3.0 %

BAM opened at $57.81 on Wednesday. The company has a market cap of $25.61 billion, a price-to-earnings ratio of 51.16, a PEG ratio of 2.31 and a beta of 1.42. Brookfield Asset Management has a 52-week low of $33.45 and a 52-week high of $58.53. The firm’s fifty day simple moving average is $51.61 and its two-hundred day simple moving average is $44.24.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data 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. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.19 billion. Brookfield Asset Management had a net margin of 49.69% and a return on equity of 85.03%. During the same period last year, the firm posted $0.35 earnings per share. On average, research analysts forecast that Brookfield Asset Management will post 1.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BAM shares. Deutsche Bank Aktiengesellschaft raised 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. Wells Fargo & Company lifted their target price 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. StockNews.com raised shares of Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. Jefferies Financial Group began coverage on shares of Brookfield Asset Management in a research note on Friday, August 2nd. They set a “hold” rating and a $43.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brookfield Asset Management from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.46.

Brookfield Asset Management Company Profile

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.