Brookfield Asset Management Ltd. (NYSE:BAM) to Issue Quarterly Dividend of $0.50

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Monday, August 31st will be paid a dividend of 0.5025 per share by the financial services provider on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, August 31st.

Brookfield Asset Management has a payout ratio of 105.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Brookfield Asset Management to earn $2.03 per share next year, which means the company should continue to be able to cover its $2.01 annual dividend with an expected future payout ratio of 99.0%.

Brookfield Asset Management Trading Up 1.2%

Shares of NYSE BAM opened at $52.58 on Thursday. Brookfield Asset Management has a one year low of $42.20 and a one year high of $64.10. The firm has a market capitalization of $86.14 billion, a PE ratio of 34.14, a PEG ratio of 2.11 and a beta of 1.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $47.16 and a two-hundred day moving average price of $47.60.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Brookfield Asset Management had a return on equity of 30.66% and a net margin of 49.69%. As a group, analysts predict that Brookfield Asset Management will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAM has been the subject of several research reports. Piper Sandler restated a “neutral” rating and set a $50.00 price target (up from $48.00) on shares of Brookfield Asset Management in a report on Monday, May 18th. Morgan Stanley set a $56.00 price objective on shares of Brookfield Asset Management and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. cut their target price on shares of Brookfield Asset Management from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings lowered shares of Brookfield Asset Management from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen cut shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Brookfield Asset Management currently has a consensus rating of “Hold” and a consensus target price of $59.03.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager headquartered in Toronto, Canada, that specializes in investments in real assets and related private equity and credit strategies. The firm acquires, manages and develops assets in sectors such as real estate, renewable power, infrastructure and private equity, seeking long-term value through active asset management and operational improvements. Brookfield structures and manages commingled funds, listed partnerships and separate accounts for institutional and retail investors.

The company’s products and services include fund management across equity and debt strategies, direct asset ownership and operations, property and facilities management, and capital markets solutions.