Brookfield Asset Management Ltd. (NYSE:BAM) Plans Dividend Increase – $0.44 Per Share

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid 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 yield of 3.04%. The ex-dividend date 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 tumble. Equities 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

Shares of BAM stock opened at $57.60 on Friday. The stock has a fifty day moving average price of $56.41 and a 200 day moving average price of $50.89. The stock has a market cap of $25.52 billion, a PE ratio of 50.97, a P/E/G ratio of 2.18 and a beta of 1.46. Brookfield Asset Management has a 1 year low of $37.29 and a 1 year high of $62.61.

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 for the quarter, topping the consensus estimate 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, equities research analysts predict that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BAM. Scotiabank lowered their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an “outperform” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods lowered their price objective on Brookfield Asset Management from $57.00 to $56.00 and set an “underperform” rating for the company in a research report on Monday, January 13th. UBS Group began coverage on Brookfield Asset Management in a research report on Monday, December 16th. They issued a “buy” rating for the company. BMO Capital Markets lifted their price objective on Brookfield Asset Management from $50.00 to $53.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.