Brookfield Asset Management Inc (BAM) Plans $0.14 Quarterly Dividend
Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Friday, August 11th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be given a dividend of 0.14 per share by the financial services provider on Friday, September 29th. This represents a $0.56 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, August 29th.
Brookfield Asset Management has raised its dividend by an average of 9.8% annually over the last three years and has raised its dividend annually for the last 5 consecutive years.
Brookfield Asset Management (NYSE BAM) traded down 0.42% during trading on Friday, reaching $38.24. The company had a trading volume of 681,926 shares. The firm has a market capitalization of $36.66 billion, a PE ratio of 30.67 and a beta of 1.03. Brookfield Asset Management has a 12-month low of $32.04 and a 12-month high of $40.09. The firm’s 50 day moving average price is $39.07 and its 200 day moving average price is $37.38.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Thursday, August 10th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.28. Brookfield Asset Management had a net margin of 5.39% and a return on equity of 2.12%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter last year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 58.1% on a year-over-year basis. Analysts anticipate that Brookfield Asset Management will post $0.99 earnings per share for the current year.
Brookfield Asset Management announced that its board has approved a share repurchase plan on Friday, May 19th that authorizes the company to repurchase 82,960,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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BAM has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price target on Brookfield Asset Management from $41.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, May 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $45.00 target price on shares of Brookfield Asset Management in a research report on Friday, May 12th. TD Securities restated a “buy” rating on shares of Brookfield Asset Management in a research report on Saturday, May 13th. ValuEngine lowered Brookfield Asset Management from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $42.19.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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