Goldman Sachs Group Inc. Acquires 1,207,305 Shares of Brookfield Corporation $BN

Goldman Sachs Group Inc. increased its stake in shares of Brookfield Corporation (NYSE:BNFree Report) by 17.9% during the fourth quarter, HoldingsChannel reports. The fund owned 7,950,712 shares of the company’s stock after acquiring an additional 1,207,305 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Brookfield were worth $364,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new stake in Brookfield in the 4th quarter valued at $27,000. Hilltop National Bank increased its holdings in Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after buying an additional 241 shares during the period. New England Capital Financial Advisors LLC increased its holdings in Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after buying an additional 251 shares during the period. Entrust Financial LLC bought a new stake in Brookfield in the 4th quarter valued at $35,000. Finally, ST Germain D J Co. Inc. grew its stake in shares of Brookfield by 49.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock valued at $37,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BN. Scotiabank reiterated an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. National Bank Financial upped their target price on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, TD Securities restated a “buy” rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $56.82.

Get Our Latest Stock Analysis on Brookfield

Brookfield Stock Down 1.0%

Shares of BN opened at $44.60 on Friday. The firm has a market capitalization of $109.30 billion, a price-to-earnings ratio of 87.45 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The business’s fifty day moving average price is $44.40 and its two-hundred day moving average price is $44.88. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is presently 54.90%.

About Brookfield

(Free Report)

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.

See Also

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Institutional Ownership by Quarter for Brookfield (NYSE:BN)

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