Brookfield Asset Management Ltd. (NYSE:BAM) Shareholders to Get $0.50 Quarterly Dividend

Brookfield Asset Management Ltd. (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Friday, November 6th. Stockholders of record on Monday, November 30th will be given a dividend of $0.5025 per share by the financial services provider on Thursday, December 31st. This represents a $2.01 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 30th.

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 analysts expect Brookfield Asset Management to earn $2.05 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 98.0%.

Brookfield Asset Management Trading Up 1.0%

NYSE:BAM opened at $53.00 on Friday. The business has a fifty day moving average of $47.18 and a 200-day moving average of $47.86. The stock has a market cap of $86.82 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 2.17 and a beta of 1.27. Brookfield Asset Management has a 1 year low of $42.20 and a 1 year high of $55.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 0.75.

Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last posted its quarterly earnings data on Friday, November 6th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Brookfield Asset Management had a net margin of 48.89% and a return on equity of 31.50%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $1.60 billion. Equities analysts predict that Brookfield Asset Management will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BAM shares. Wells Fargo & Company initiated coverage on Brookfield Asset Management in a research report on Friday, October 2nd. They set an “overweight” rating and a $41.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Brookfield Asset Management from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Piper Sandler set a $49.00 price target on shares of Brookfield Asset Management and gave the company a “neutral” rating in a research report on Monday, October 19th. JPMorgan Chase & Co. upped their target price on Brookfield Asset Management from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, UBS Group decreased their target price on shares of Brookfield Asset Management from $55.00 to $49.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.91.

Brookfield Asset Management Company Profile

Brookfield Asset Management is a global alternative asset manager that invests in and manages assets on behalf of institutional and private wealth clients. Its investment strategies span infrastructure, renewable power and transition, private equity, real estate, and credit.

The company operates across North America, South America, Europe, the Middle East, and Asia-Pacific. Its businesses invest in and manage assets such as energy and transportation infrastructure, renewable power facilities, real estate, and companies across a range of industries.

Brookfield Asset Management became a separately listed company in 2022, following the separation of Brookfield Corporation’s asset management business.