Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) declared a quarterly dividend on Thursday, February 13th, Zacks reports. Investors of record on Friday, February 28th will be paid a dividend of 0.18 per share by the financial services provider on Tuesday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, February 27th. This is a boost from Brookfield Asset Management’s previous quarterly dividend of $0.16.
Brookfield Asset Management has raised its dividend by an average of 4.6% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Brookfield Asset Management has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings.
BAM traded up $0.91 on Friday, hitting $67.54. 55,707 shares of the stock traded hands, compared to its average volume of 1,117,801. Brookfield Asset Management has a 52 week low of $42.33 and a 52 week high of $66.80. The company has a current ratio of 1.11, a quick ratio of 0.89 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $66.95 billion, a PE ratio of 18.17 and a beta of 1.07. The business has a fifty day moving average price of $60.87 and a two-hundred day moving average price of $55.71.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.49. Brookfield Asset Management had a return on equity of 3.95% and a net margin of 5.82%. The company had revenue of $17.82 billion for the quarter, compared to analyst estimates of $13.75 billion. During the same period in the prior year, the company posted $1.87 EPS. The company’s revenue was up 11.3% compared to the same quarter last year.
Several equities research analysts have recently weighed in on BAM shares. Credit Suisse Group upped their price objective on Brookfield Asset Management from $60.00 to $68.00 and gave the company an “average” rating in a research note on Monday, January 13th. They noted that the move was a valuation call. Citigroup lowered Brookfield Asset Management from a “buy” rating to a “neutral” rating in a research note on Monday, November 18th. Royal Bank of Canada upped their price objective on Brookfield Asset Management from $57.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. CIBC reiterated a “buy” rating on shares of Brookfield Asset Management in a research note on Friday. Finally, TD Securities upped their price objective on Brookfield Asset Management from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $64.58.
Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is a publicly owned asset management holding company. The firm specializes in early stage, acquisition, distressed investments, short-term financing to mid-market companies, corporate carve-outs, recapitalizations, convertible, senior and mezzanine financings, operational and capital structure restructuring, strategic re-direction, turnaround, and under-performing midmarket companies.
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