CI Investments Inc. Cuts Position in Brookfield Corporation $BN

CI Investments Inc. trimmed its position in shares of Brookfield Corporation (NYSE:BN) by 20.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,429,556 shares of the company’s stock after selling 896,484 shares during the period. CI Investments Inc.’s holdings in Brookfield were worth $138,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Florida Trust Wealth Management Co boosted its stake in shares of Brookfield by 49.0% in the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after acquiring an additional 387,068 shares during the period. Vanguard Group Inc. raised its stake in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares during the period. Lincluden Management Ltd. raised its stake in Brookfield by 44.2% during the 4th quarter. Lincluden Management Ltd. now owns 763,376 shares of the company’s stock valued at $35,031,000 after purchasing an additional 233,997 shares during the period. Baskin Financial Services Inc. lifted its holdings in Brookfield by 48.9% in the 4th quarter. Baskin Financial Services Inc. now owns 1,353,889 shares of the company’s stock worth $62,149,000 after purchasing an additional 444,872 shares in the last quarter. Finally, Cardinal Capital Management Inc. lifted its holdings in Brookfield by 42.2% in the 4th quarter. Cardinal Capital Management Inc. now owns 3,077,748 shares of the company’s stock worth $141,238,000 after purchasing an additional 913,603 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Trading Down 0.5%

NYSE:BN opened at $42.19 on Wednesday. The stock has a market capitalization of $103.40 billion, a price-to-earnings ratio of 82.72 and a beta of 1.54. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average of $44.39 and a 200 day moving average of $44.43.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s dividend payout ratio is currently 54.90%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BN shares. Scotiabank restated an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. National Bank Financial boosted their target price on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. 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. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada dropped their target price on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. One equities research 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’s stock. According to MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.64.

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.