TD Asset Management Inc Purchases 11,323,960 Shares of Brookfield Corporation $BN

TD Asset Management Inc boosted its position in Brookfield Corporation (NYSE:BN) by 46.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,763,047 shares of the company’s stock after purchasing an additional 11,323,960 shares during the period. Brookfield makes up approximately 1.3% of TD Asset Management Inc’s investment portfolio, making the stock its 14th biggest holding. TD Asset Management Inc owned approximately 1.44% of Brookfield worth $1,644,200,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BN. Savant Capital LLC increased its position in shares of Brookfield by 6.5% during the third quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after acquiring an additional 226 shares during the period. State of Wyoming increased its position in shares of Brookfield by 7.8% during the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after acquiring an additional 240 shares during the period. Hilltop National Bank increased its position in shares of Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after acquiring an additional 241 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Brookfield by 38.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock worth $60,000 after acquiring an additional 243 shares during the period. Finally, New England Capital Financial Advisors LLC increased its position in shares of Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after acquiring an additional 251 shares during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

NYSE BN opened at $43.88 on Thursday. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The firm’s fifty day simple moving average is $44.19 and its two-hundred day simple moving average is $44.87. 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 firm has a market capitalization of $107.53 billion, a P/E ratio of 86.03 and a beta of 1.53.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield’s payout ratio is presently 54.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BN shares. Scotiabank reaffirmed an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price 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. Scotia raised their target price 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. Finally, TD lifted their price objective on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.82.

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.