Brookfield Asset Management Inc. (BAM) To Go Ex-Dividend on May 27th

Brookfield Asset Management Inc. (NYSE:BAMGet Rating) (TSE:BAM.A) declared a quarterly dividend on Thursday, May 12th, RTT News reports. Stockholders of record on Tuesday, May 31st will be given a dividend of 0.14 per share by the financial services provider on Thursday, June 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, May 27th.

Brookfield Asset Management has decreased its dividend by an average of 4.7% annually over the last three years and has increased its dividend every year for the last 12 years. Brookfield Asset Management has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brookfield Asset Management to earn $3.59 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 15.6%.

BAM opened at $47.71 on Friday. The stock has a market cap of $78.31 billion, a price-to-earnings ratio of 19.63 and a beta of 1.31. The stock’s 50 day moving average price is $53.50 and its 200-day moving average price is $56.03. Brookfield Asset Management has a one year low of $44.13 and a one year high of $62.47.

Brookfield Asset Management (NYSE:BAMGet Rating) (TSE:BAM.A) last released its earnings results on Thursday, May 12th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. The firm had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $18.35 billion. Brookfield Asset Management had a return on equity of 3.21% and a net margin of 5.24%. During the same quarter in the prior year, the firm posted $1.80 earnings per share. As a group, sell-side analysts expect that Brookfield Asset Management will post 3.22 EPS for the current year.

In related news, major shareholder Oaktree Capital Management Gp, sold 585,735 shares of Brookfield Asset Management stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $31.00, for a total value of $18,157,785.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brookfield Asset Management In sold 1,500,000 shares of Brookfield Asset Management stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $26.63, for a total value of $39,945,000.00. Following the completion of the sale, the insider now owns 16,392,780 shares in the company, valued at $436,539,731.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,976,384 shares of company stock worth $105,795,602.

A number of hedge funds have recently bought and sold shares of BAM. Vanguard Group Inc. lifted its stake in Brookfield Asset Management by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 44,050,716 shares of the financial services provider’s stock worth $2,491,950,000 after purchasing an additional 1,220,298 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in Brookfield Asset Management in the 1st quarter worth approximately $31,320,000. Canada Pension Plan Investment Board purchased a new position in Brookfield Asset Management in the 1st quarter worth approximately $22,369,000. Mariner LLC raised its position in shares of Brookfield Asset Management by 676.6% during the 1st quarter. Mariner LLC now owns 201,682 shares of the financial services provider’s stock valued at $11,409,000 after buying an additional 175,712 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Brookfield Asset Management by 4.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 899,101 shares of the financial services provider’s stock valued at $54,288,000 after buying an additional 39,217 shares during the period. Institutional investors own 60.24% of the company’s stock.

Several research analysts recently issued reports on the company. Credit Suisse Group raised Brookfield Asset Management from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $68.00 to $71.50 in a research note on Wednesday, April 27th. StockNews.com raised Brookfield Asset Management from a “sell” rating to a “hold” rating in a research report on Saturday, April 30th. Citigroup increased their price objective on Brookfield Asset Management from $61.00 to $65.50 in a report on Friday, February 11th. Royal Bank of Canada reduced their target price on Brookfield Asset Management from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Zacks Investment Research upgraded Brookfield Asset Management from a “sell” rating to a “hold” rating in a research note on Monday, May 9th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $66.10.

About Brookfield Asset Management (Get Rating)

Brookfield Asset Management is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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Dividend History for Brookfield Asset Management (NYSE:BAM)

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