Brookfield Asset Management Ltd. Plans Quarterly Dividend of $0.38 (NYSE:BAM)

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.38 per share by the financial services provider on Friday, June 28th. This represents a $1.52 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, May 31st.

Brookfield Asset Management has a dividend payout ratio of 85.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Brookfield Asset Management to earn $1.78 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 85.4%.

Brookfield Asset Management Trading Up 2.2 %

NYSE BAM traded up $0.86 during trading hours on Thursday, reaching $40.01. 2,649,519 shares of the company's stock were exchanged, compared to its average volume of 1,475,356. The firm has a fifty day moving average of $40.59 and a 200-day moving average of $38.21. Brookfield Asset Management has a one year low of $28.35 and a one year high of $43.00. The stock has a market cap of $16.53 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The company had revenue of $1.13 billion for the quarter. Brookfield Asset Management had a return on equity of 96.43% and a net margin of 50.23%. During the same quarter in the previous year, the company posted $0.31 EPS. As a group, research analysts forecast that Brookfield Asset Management will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

BAM has been the subject of several research reports. Scotiabank lowered their price objective on shares of Brookfield Asset Management from $47.00 to $44.50 and set a "sector outperform" rating for the company in a research report on Thursday. Royal Bank of Canada lifted their target price on Brookfield Asset Management from $50.00 to $53.00 and gave the company an "outperform" rating in a research note on Monday, April 29th. HSBC lowered Brookfield Asset Management from a "buy" rating to a "hold" rating in a research note on Thursday, February 1st. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $34.00 to $36.00 and gave the stock a "market perform" rating in a research report on Thursday, February 8th. Finally, CIBC upped their target price on shares of Brookfield Asset Management from $40.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.25.

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.