JPMorgan Chase & Co. Acquires 1,186,839 Shares of Brookfield Corporation $BN

JPMorgan Chase & Co. lifted its holdings in shares of Brookfield Corporation (NYSE:BN) by 22.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,572,428 shares of the company’s stock after buying an additional 1,186,839 shares during the period. JPMorgan Chase & Co.’s holdings in Brookfield were worth $450,737,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in Brookfield during the second quarter worth about $32,000. First Horizon Corp acquired a new position in shares of Brookfield during the 3rd quarter worth approximately $40,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after purchasing an additional 330 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Brookfield by 507.5% during the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after purchasing an additional 543 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Brookfield in the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE BN opened at $47.44 on Thursday. The stock has a market cap of $117.49 billion, a PE ratio of 96.16 and a beta of 1.57. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.21 and a current ratio of 1.32. The firm has a 50-day moving average of $46.61 and a 200-day moving average of $45.67. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. Brookfield’s dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BN. Scotiabank restated an “outperform” rating and set a $52.00 target price (up from $49.00) on shares of Brookfield in a report on Friday, February 13th. BMO Capital Markets lifted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $52.00 price target (up previously from $50.67) on shares of Brookfield in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average price target of $54.59.

Brookfield 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.