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

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from Brookfield Asset Management’s previous quarterly dividend of $0.38.

Brookfield Asset Management has a dividend payout ratio of 76.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Brookfield Asset Management to earn $1.75 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 86.9%.

Brookfield Asset Management Stock Performance

BAM opened at $57.60 on Friday. Brookfield Asset Management has a one year low of $37.29 and a one year high of $62.61. The company has a market cap of $25.52 billion, a P/E ratio of 50.97, a PEG ratio of 2.18 and a beta of 1.46. The business’s 50-day simple moving average is $56.41 and its 200-day simple moving average is $50.89.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. Brookfield Asset Management had a return on equity of 85.03% and a net margin of 49.69%. As a group, analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BAM. Scotiabank dropped their price target on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating on the stock in a research note on Thursday. TD Securities increased their price objective on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased 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. 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. Finally, Wells Fargo & Company decreased their price objective on Brookfield Asset Management from $55.00 to $54.00 and set an “underweight” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Brookfield Asset Management has a consensus rating of “Hold” and a consensus target price of $56.71.

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.