Brookfield Asset Management Ltd. (BAM) To Go Ex-Dividend on November 28th

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Friday, November 7th. Shareholders 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) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, November 28th.

Brookfield Asset Management has a 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 tumble. 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

Brookfield Asset Management stock opened at $51.32 on Wednesday. The firm has a fifty day moving average of $55.16 and a 200-day moving average of $57.18. Brookfield Asset Management has a 52-week low of $41.78 and a 52-week high of $64.10. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $84.05 billion, a P/E ratio of 34.44, a PEG ratio of 2.04 and a beta of 1.38.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Private Advisor Group LLC raised its position in shares of Brookfield Asset Management by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 12,653 shares of the financial services provider’s stock valued at $613,000 after acquiring an additional 726 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Brookfield Asset Management in the 1st quarter worth about $205,000. Cetera Investment Advisers boosted its holdings in shares of Brookfield Asset Management by 37.9% in the 1st quarter. Cetera Investment Advisers now owns 40,042 shares of the financial services provider’s stock valued at $1,938,000 after buying an additional 11,008 shares during the period. Mediolanum International Funds Ltd boosted its holdings in shares of Brookfield Asset Management by 167.5% in the 1st quarter. Mediolanum International Funds Ltd now owns 23,509 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 14,722 shares during the period. Finally, HB Wealth Management LLC grew its position in shares of Brookfield Asset Management by 70.7% during the 1st quarter. HB Wealth Management LLC now owns 8,003 shares of the financial services provider’s stock valued at $388,000 after buying an additional 3,316 shares during the last quarter. Institutional investors own 68.41% of the company’s stock.

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.