Bessemer Group Inc. Decreases Stake in Brookfield Corporation $BN

Bessemer Group Inc. cut its holdings in shares of Brookfield Corporation (NYSE:BN) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,781,141 shares of the company’s stock after selling 47,726 shares during the period. Bessemer Group Inc. owned about 0.19% of Brookfield worth $327,889,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its holdings in Brookfield by 4.1% during the 2nd quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock worth $268,000 after purchasing an additional 172 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Brookfield by 7.1% in the second quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock worth $183,000 after buying an additional 197 shares during the last quarter. Savant Capital LLC raised its holdings in Brookfield by 6.5% in the third quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock valued at $253,000 after acquiring an additional 226 shares in the last quarter. Advisors Capital Management LLC boosted its stake in Brookfield by 3.2% during the 2nd quarter. Advisors Capital Management LLC now owns 7,440 shares of the company’s stock valued at $460,000 after acquiring an additional 230 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of Brookfield by 7.8% in the 3rd quarter. State of Wyoming now owns 3,301 shares of the company’s stock valued at $227,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. CIBC reiterated an “outperform” rating and issued a $52.00 price target (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Royal Bank Of Canada set a $58.00 price target on shares of Brookfield and gave the stock an “outperform” rating in a research report on Monday, January 26th. Morgan Stanley restated an “overweight” rating and set a $58.00 price objective on shares of Brookfield in a research report on Tuesday, January 27th. National Bankshares raised their target price on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $54.70.

Brookfield Trading Up 2.7%

NYSE:BN opened at $45.85 on Thursday. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.31 and a quick ratio of 1.19. The firm has a 50-day moving average of $46.57 and a 200-day moving average of $45.51. The company has a market cap of $113.56 billion, a PE ratio of 127.36 and a beta of 1.57.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, equities research analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s dividend payout ratio is currently 66.67%.

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.