Park Avenue Securities LLC Boosts Stock Position in Brookfield Corporation $BN

Park Avenue Securities LLC raised its stake in Brookfield Corporation (NYSE:BN) by 45.0% during the 4th quarter, HoldingsChannel reports. The firm owned 54,694 shares of the company’s stock after acquiring an additional 16,970 shares during the period. Park Avenue Securities LLC’s holdings in Brookfield were worth $2,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC raised its stake in shares of Brookfield by 4.1% during the second 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. Savant Capital LLC grew its position in Brookfield by 6.5% in the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock valued at $253,000 after buying an additional 226 shares during the last quarter. State of Wyoming increased its stake in 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 buying an additional 240 shares during the period. Manitou Investment Management Ltd. raised its position in Brookfield by 0.4% during the 3rd quarter. Manitou Investment Management Ltd. now owns 56,337 shares of the company’s stock worth $3,864,000 after buying an additional 241 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in Brookfield by 38.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock worth $60,000 after buying an additional 243 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. BMO Capital Markets increased their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Finally, Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.59.

Brookfield Price Performance

Shares of NYSE:BN opened at $39.46 on Tuesday. The business’s 50 day simple moving average is $44.54 and its 200-day simple moving average is $45.40. The firm has a market capitalization of $96.66 billion, a price-to-earnings ratio of 79.98 and a beta of 1.58. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. As a group, equities analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.7%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 17th. Brookfield’s dividend payout ratio is currently 57.14%.

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.