AIA Group Ltd Purchases New Shares in Brookfield Corporation $BN

Key Points

• AIA Group Ltd acquired a new stake of 71,768 shares in Brookfield Corporation in the third quarter, valued at approximately $4.92 million, according to its SEC filing.
• Several large institutions also increased positions—Capital World Investors (+2.4% to 68.31M shares), Vanguard (+1.5% to 60.56M) and Principal (+1.6% to 50.85M)—and about 61.60% of the stock is owned by hedge funds and other institutional investors.
• Analysts rate Brookfield a “Moderate Buy” with a consensus price target of $54.59 after recent upgrades, while the company recently beat quarterly EPS estimates ($0.67 vs. $0.61) and raised its quarterly dividend to $0.07 (annualized $0.28, ~0.7% yield).

AIA Group Ltd acquired a new stake in shares of Brookfield Corporation (NYSE:BN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 71,768 shares of the company's stock, valued at approximately $4,922,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital World Investors boosted its holdings in shares of Brookfield by 2.4% in the 3rd quarter. Capital World Investors now owns 68,313,662 shares of the company's stock worth $4,685,103,000 after purchasing an additional 1,624,085 shares during the period. Vanguard Group Inc. raised its holdings in Brookfield by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 60,559,807 shares of the company's stock valued at $4,155,251,000 after buying an additional 897,916 shares during the period. Principal Financial Group Inc. lifted its position in Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company's stock worth $3,487,338,000 after buying an additional 799,440 shares during the last quarter. Akre Capital Management LLC lifted its position in Brookfield by 0.7% in the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company's stock worth $1,188,713,000 after buying an additional 125,269 shares during the last quarter. Finally, Norges Bank purchased a new position in Brookfield during the second quarter worth $1,040,160,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Morgan Stanley reiterated an "overweight" rating and set a $60.00 price target on shares of Brookfield in a report on Tuesday, February 17th. BMO Capital Markets increased their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research note on Monday, December 29th. Finally, Scotiabank restated an "outperform" rating and set a $52.00 target price (up from $49.00) on shares of Brookfield in a research report on Friday, February 13th. One 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.59.

Brookfield Trading Down 0.3%

BN stock opened at $39.12 on Friday. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56. The firm's 50-day moving average is $44.90 and its 200 day moving average is $45.45. The company has a market capitalization of $95.83 billion, a PE ratio of 79.29 and a beta of 1.58. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. On average, research analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield's dividend payout ratio (DPR) is presently 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.

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