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

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A declared a quarterly dividend on Tuesday, May 6th, RTT News reports. Shareholders 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 yield of 3.11%. The ex-dividend date of this dividend is Friday, May 30th.

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. 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 Trading Down 0.9 %

Shares of BAM stock traded down $0.52 on Friday, reaching $56.35. 1,628,233 shares of the stock were exchanged, compared to its average volume of 1,371,023. The company has a market capitalization of $92.26 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 1.92 and a beta of 1.56. The business's 50 day moving average price is $49.67 and its 200 day moving average price is $54.05. Brookfield Asset Management has a twelve month low of $37.29 and a twelve month high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.40 EPS for the quarter, meeting analysts' consensus estimates of $0.40. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.29 billion. Brookfield Asset Management had a return on equity of 81.16% and a net margin of 54.47%. Equities research analysts forecast that Brookfield Asset Management will post 1.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. CIBC increased their target price on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. StockNews.com raised Brookfield Asset Management from a "sell" rating to a "hold" rating in a research note on Tuesday, April 15th. Hsbc Global Res raised shares of Brookfield Asset Management from a "hold" rating to a "strong-buy" rating in a report on Friday, February 14th. HSBC raised Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield Asset Management from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.77.

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.