Brookfield Asset Management Ltd. Plans Quarterly Dividend of $0.44 (NYSE:BAM)

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Friday, November 7th. Investors of record on Friday, November 28th will be paid a dividend of 0.4375 per share by the financial services provider on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, November 28th.

Brookfield Asset Management has a dividend payout ratio of 91.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Brookfield Asset Management to earn $1.99 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 87.9%.

Brookfield Asset Management Price Performance

BAM stock traded down $0.30 during trading on Friday, reaching $52.97. 5,247,673 shares of the company were exchanged, compared to its average volume of 2,074,035. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s 50 day moving average price is $56.82 and its 200 day moving average price is $57.27. Brookfield Asset Management has a 52-week low of $41.78 and a 52-week high of $64.10. The company has a market cap of $86.75 billion, a P/E ratio of 35.55, a PEG ratio of 2.04 and a beta of 1.38.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings results on Friday, November 7th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.34 billion. Brookfield Asset Management had a net margin of 55.92% and a return on equity of 41.12%. As a group, analysts predict that Brookfield Asset Management will post 1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on BAM. CIBC boosted their target price on Brookfield Asset Management from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. TD Securities boosted their price objective on shares of Brookfield Asset Management from $66.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. National Bank Financial began coverage on shares of Brookfield Asset Management in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $71.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of Brookfield Asset Management from $53.00 to $56.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Brookfield Asset Management in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.14.

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.