Brookfield Asset Management Ltd. (NYSE:BAM) Announces Quarterly Dividend of $0.38

Brookfield Asset Management Ltd. (NYSE:BAM - Get Free Report) TSE: BAM.A announced a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.38 per share by the financial services provider on Tuesday, December 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, November 29th.

Brookfield Asset Management has a dividend payout ratio of 91.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Brookfield Asset Management to earn $1.67 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 91.0%.

Brookfield Asset Management Trading Up 1.4 %

Shares of BAM traded up $0.79 during mid-day trading on Tuesday, hitting $55.56. The company's stock had a trading volume of 2,071,417 shares, compared to its average volume of 1,278,967. Brookfield Asset Management has a 52-week low of $30.59 and a 52-week high of $57.36. The company's 50-day moving average is $47.46 and its 200-day moving average is $42.45. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 49.17, a PEG ratio of 2.55 and a beta of 1.42.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its earnings results on Monday, November 4th. The financial services provider reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.02. Brookfield Asset Management had a net margin of 51.29% and a return on equity of 92.37%. The company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. As a group, sell-side analysts predict that Brookfield Asset Management will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAM has been the subject of a number of analyst reports. BMO Capital Markets increased their target price on shares of Brookfield Asset Management from $40.00 to $50.00 and gave the company a "market perform" rating in a research report on Tuesday. Royal Bank of Canada increased their target price on shares of Brookfield Asset Management from $55.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday. CIBC raised their price target on shares of Brookfield Asset Management from $47.00 to $49.00 and gave the stock an "outperformer" rating in a report on Friday, July 19th. TD Securities raised their price target on shares of Brookfield Asset Management from $61.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Brookfield Asset Management from $44.00 to $49.00 and gave the stock an "underperform" rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $52.29.

About Brookfield Asset Management

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.