Brookfield Asset Management Ltd. (NYSE:BAM) Increases Dividend to $0.44 Per Share

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.92%. 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 payout ratio of 88.8% meaning 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 may not be able to cover its $1.75 annual dividend with an expected future payout ratio of 100.0%.

Brookfield Asset Management Stock Up 4.0 %

Shares of BAM traded up $2.29 during mid-day trading on Monday, reaching $59.86. The company had a trading volume of 1,928,737 shares, compared to its average volume of 1,329,742. The stock has a market capitalization of $26.53 billion, a P/E ratio of 52.98, a PEG ratio of 2.18 and a beta of 1.46. The stock has a 50 day moving average of $56.45 and a two-hundred day moving average of $51.17. Brookfield Asset Management has a 52-week low of $37.29 and a 52-week high of $62.61.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last released its earnings results on Wednesday, February 12th. The financial services provider reported $0.40 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that Brookfield Asset Management will post 1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

BAM has been the subject of a number of research reports. Scotiabank dropped their price objective on Brookfield Asset Management from $63.00 to $62.50 and set an "outperform" rating for the company in a research note on Thursday. TD Securities lifted their price target on Brookfield Asset Management from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Monday, February 10th. The Goldman Sachs Group lifted their price target on Brookfield Asset Management from $57.00 to $63.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Brookfield Asset Management from $56.00 to $59.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Finally, StockNews.com downgraded Brookfield Asset Management from a "hold" rating to a "sell" rating in a report on Thursday, January 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Brookfield Asset Management currently 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.