JPMorgan Chase & Co. Grows Stake in Brookfield Corporation $BN

JPMorgan Chase & Co. lifted its stake in shares of Brookfield Corporation (NYSE:BN) by 39.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,183,593 shares of the company’s stock after purchasing an additional 2,611,165 shares during the period. JPMorgan Chase & Co.’s holdings in Brookfield were worth $421,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Clearbridge Investments LLC increased its stake in shares of Brookfield by 45.6% during the fourth quarter. Clearbridge Investments LLC now owns 2,851,937 shares of the company’s stock worth $130,875,000 after purchasing an additional 893,726 shares in the last quarter. Syon Capital LLC boosted its position in Brookfield by 57.6% during the fourth quarter. Syon Capital LLC now owns 21,215 shares of the company’s stock worth $974,000 after acquiring an additional 7,754 shares during the last quarter. Capital World Investors boosted its position in Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after acquiring an additional 30,755,354 shares during the last quarter. Capital Research Global Investors boosted its position in Brookfield by 47.0% during the fourth quarter. Capital Research Global Investors now owns 2,134,876 shares of the company’s stock worth $98,022,000 after acquiring an additional 682,137 shares during the last quarter. Finally, Capital International Sarl boosted its position in Brookfield by 32.4% during the fourth quarter. Capital International Sarl now owns 340,830 shares of the company’s stock worth $15,641,000 after acquiring an additional 83,456 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 1.8%

Shares of NYSE:BN opened at $44.67 on Thursday. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The company’s 50 day moving average is $44.74 and its two-hundred day moving average is $44.92. 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 company has a market cap of $109.47 billion, a PE ratio of 87.59 and a beta of 1.53.

Brookfield Announces Dividend

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

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent research reports. National Bank Financial boosted their price target on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Scotiabank reiterated an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.