Maryland State Retirement & Pension System increased its holdings in Brookfield Corporation (NYSE:BN – Free Report) by 50.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 237,910 shares of the company’s stock after purchasing an additional 79,656 shares during the period. Maryland State Retirement & Pension System’s holdings in Brookfield were worth $10,929,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in BN. AQR Capital Management LLC grew its position in shares of Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after purchasing an additional 11,069 shares during the period. NewEdge Advisors LLC grew its position in shares of Brookfield by 13.5% in the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after purchasing an additional 295 shares during the period. Sivia Capital Partners LLC grew its position in shares of Brookfield by 32.3% in the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after purchasing an additional 1,396 shares during the period. AXA S.A. grew its position in shares of Brookfield by 42.2% in the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after purchasing an additional 30,703 shares during the period. Finally, Squarepoint Ops LLC grew its position in Brookfield by 29.6% during the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after acquiring an additional 5,821 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on BN. Morgan Stanley reissued an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. TD boosted their price target on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Scotiabank reissued an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Scotia boosted their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Finally, TD Securities reissued a “buy” rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. One equities research 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 stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $56.82.
Brookfield Price Performance
BN stock opened at $45.66 on Wednesday. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The stock has a 50-day moving average price of $45.11 and a two-hundred day moving average price of $44.91. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The company has a market cap of $111.92 billion, a PE ratio of 89.53 and a beta of 1.53.
Brookfield Announces Dividend
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 given a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s dividend payout ratio is presently 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.
Featured Stories
- Five stocks we like better than Brookfield
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Want to see what other hedge funds are holding BN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Corporation (NYSE:BN – Free Report).
Receive News & Ratings for Brookfield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield and related companies with MarketBeat.com's FREE daily email newsletter.
