Malaga Cove Capital LLC Grows Position in Brookfield Corporation (NYSE:BN)

Malaga Cove Capital LLC boosted its stake in Brookfield Corporation (NYSE:BN) by 185.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,881 shares of the company’s stock after purchasing an additional 7,072 shares during the quarter. Malaga Cove Capital LLC’s holdings in Brookfield were worth $570,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Capital World Investors grew its stake in Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock worth $3,390,786,000 after buying an additional 1,782,034 shares during the period. TD Asset Management Inc grew its stake in Brookfield by 1.5% during the first quarter. TD Asset Management Inc now owns 24,584,311 shares of the company’s stock worth $1,286,395,000 after buying an additional 354,171 shares during the period. FIL Ltd grew its stake in Brookfield by 8.8% during the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company’s stock worth $1,169,912,000 after buying an additional 1,640,903 shares during the period. The Manufacturers Life Insurance Company grew its stake in Brookfield by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company’s stock worth $682,497,000 after buying an additional 129,735 shares during the period. Finally, Geode Capital Management LLC grew its stake in Brookfield by 32.0% during the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock worth $460,489,000 after buying an additional 1,930,218 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BN has been the subject of several research reports. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the stock an “outperform” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday, July 12th. National Bank Financial started coverage on shares of Brookfield in a research note on Tuesday. They set an “outperform” rating and a $82.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada started coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an “outperform” rating and a $81.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Brookfield Trading Down 2.6%

NYSE BN opened at $65.32 on Friday. The company’s fifty day simple moving average is $62.02 and its 200-day simple moving average is $57.53. Brookfield Corporation has a 52 week low of $42.21 and a 52 week high of $68.75. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The stock has a market cap of $107.70 billion, a P/E ratio of 233.29 and a beta of 1.70.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. Equities research analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.6%. Brookfield’s dividend payout ratio is currently 128.57%.

Brookfield Company Profile

Brookfield Corporation 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.