Bamco Inc. NY Boosts Stake in Brookfield Corporation $BN

Bamco Inc. NY raised its position in Brookfield Corporation (NYSE:BN) by 51.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,635,917 shares of the company’s stock after buying an additional 1,233,637 shares during the period. Bamco Inc. NY’s holdings in Brookfield were worth $166,852,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chemistry Wealth Management LLC increased its stake in shares of Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after purchasing an additional 148,893 shares during the last quarter. PCJ Investment Counsel Ltd. increased its stake in shares of Brookfield by 110.2% during the 3rd 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 stake in shares of Brookfield by 49.0% during the 4th 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 stake in shares of Brookfield by 49.5% during the 3rd 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 stake in shares of Brookfield by 52.1% during the 4th 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. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 2.0%

BN opened at $44.75 on Thursday. The company has a 50 day moving average of $45.19 and a 200 day moving average of $44.90. The company has a market cap of $109.68 billion, a PE ratio of 87.74 and a beta of 1.53. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BN shares. Scotia raised their price target on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. TD raised their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

About Brookfield

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.