Ilmarinen Mutual Pension Insurance Co increased its position in Brookfield Corporation (NYSE:BN – Free Report) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,500 shares of the company’s stock after buying an additional 35,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Brookfield were worth $4,902,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Chemistry Wealth Management LLC increased its stake in Brookfield by 51.6% in the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after purchasing an additional 148,893 shares during the last quarter. PCJ Investment Counsel Ltd. increased its position in Brookfield by 110.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after purchasing an additional 122,040 shares during the last quarter. Florida Trust Wealth Management Co increased its position in Brookfield by 49.0% during the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after purchasing an additional 387,068 shares during the last quarter. Citigroup Inc. increased its position in Brookfield by 49.5% during the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after purchasing an additional 221,078 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.
Wall Street Analyst Weigh In
BN has been the subject of several research analyst reports. TD upped their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Scotia upped their price target on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Finally, Royal Bank Of Canada dropped their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $56.82.
Brookfield Price Performance
Brookfield stock opened at $45.60 on Friday. Brookfield Corporation has a 52-week low of $37.83 and a 52-week high of $49.56. The firm has a fifty day moving average of $43.83 and a 200-day moving average of $44.90. The firm has a market capitalization of $111.74 billion, a P/E ratio of 89.40 and a beta of 1.55. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.
Brookfield Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.07 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is 54.90%.
Brookfield Company Profile
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.
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