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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.4375 per share by the financial services provider on Monday, March 31st. This represents a $1.75 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.38.

Brookfield Asset Management has a dividend payout ratio of 88.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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

NYSE BAM opened at $56.86 on Wednesday. Brookfield Asset Management has a fifty-two week low of $37.29 and a fifty-two week high of $62.61. The firm has a market capitalization of $25.20 billion, a P/E ratio of 43.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.46. The stock’s fifty day moving average is $56.64 and its two-hundred day moving average is $52.12.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. As a group, sell-side analysts forecast that Brookfield Asset Management will post 1.7 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Hsbc Global Res upgraded Brookfield Asset Management from a “hold” rating to a “strong-buy” rating in a report on Friday, February 14th. BMO Capital Markets upped their price target on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Scotiabank decreased their target price on shares of Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, HSBC upgraded shares of Brookfield Asset Management from a “hold” rating to a “buy” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and an average price target of $56.71.

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.