Brookfield Asset Management Inc (NYSE:BAM) (TSE:BAM.A) announced a quarterly dividend on Friday, August 11th, Wall Street Journal reports. Stockholders of record on Thursday, August 31st will be given a dividend of 0.14 per share by the financial services provider on Friday, September 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Tuesday, August 29th.
Brookfield Asset Management has raised its dividend by an average of 9.8% annually over the last three years and has increased its dividend every year for the last 5 years.
Shares of Brookfield Asset Management (NYSE BAM) opened at 38.24 on Friday. The company has a market cap of $43.02 billion, a PE ratio of 35.77 and a beta of 1.03. The stock’s 50 day moving average price is $39.06 and its 200-day moving average price is $37.41. Brookfield Asset Management has a 12-month low of $32.04 and a 12-month high of $40.09.
Brookfield Asset Management (NYSE:BAM) (TSE:BAM.A) last announced its earnings results on Thursday, August 10th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.28. Brookfield Asset Management had a return on equity of 2.14% and a net margin of 4.87%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. Brookfield Asset Management’s revenue for the quarter was up 58.1% on a year-over-year basis. On average, equities research analysts forecast that Brookfield Asset Management will post $0.99 earnings per share for the current year.
Brookfield Asset Management declared that its Board of Directors has authorized a stock buyback plan on Friday, May 19th that allows the company to repurchase 82,960,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently weighed in on the stock. TD Securities restated a “buy” rating on shares of Brookfield Asset Management in a report on Saturday, May 13th. Royal Bank Of Canada increased their price objective on shares of Brookfield Asset Management from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank increased their price objective on shares of Brookfield Asset Management from $41.75 to $42.50 and gave the company an “outperform” rating in a report on Wednesday. BidaskClub lowered shares of Brookfield Asset Management from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $45.00 price objective on shares of Brookfield Asset Management in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $42.19.
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Brookfield Asset Management Company Profile
Brookfield Asset Management Inc is an alternative asset manager. The Company operates in eight segments. The Asset Management segment manages its listed partnerships, private funds and public markets on behalf of its clients. The Property segment includes the ownership, operation and development of office, retail and other properties.
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