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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Tuesday, May 6th, RTT News reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.4375 per share by the financial services provider on Monday, June 30th. This represents a $1.75 annualized dividend and a dividend yield of 3.25%.

Brookfield Asset Management has a dividend payout ratio of 90.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Stock Performance

BAM opened at $53.90 on Tuesday. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The stock’s 50 day moving average price is $49.60 and its 200-day moving average price is $53.93. The stock has a market cap of $88.25 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 1.92 and a beta of 1.56.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. 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 analysts recently commented on the stock. Hsbc Global Res upgraded shares of Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 14th. Morgan Stanley lowered their price target on Brookfield Asset Management from $62.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group dropped their target price on shares of Brookfield Asset Management from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, April 8th. Scotiabank decreased their price target on shares of Brookfield Asset Management from $62.50 to $58.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. Finally, BMO Capital Markets increased their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.

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.