Allianz Asset Management GmbH Grows Position in Brookfield Corporation (NYSE:BN)

Allianz Asset Management GmbH boosted its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 8.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,562 shares of the company's stock after purchasing an additional 6,358 shares during the period. Allianz Asset Management GmbH's holdings in Brookfield were worth $4,111,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of Brookfield by 3.1% during the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after buying an additional 1,782,034 shares during the period. FIL Ltd lifted its stake in Brookfield by 8.8% in the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company's stock valued at $1,169,912,000 after buying an additional 1,640,903 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Brookfield by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company's stock valued at $682,497,000 after buying an additional 129,735 shares in the last quarter. Geode Capital Management LLC increased its stake in Brookfield by 32.0% in the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock valued at $460,489,000 after buying an additional 1,930,218 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in Brookfield by 2.4% in the 4th quarter. Scotia Capital Inc. now owns 6,857,180 shares of the company's stock valued at $392,500,000 after buying an additional 158,859 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen downgraded shares of Brookfield from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the stock an "outperform" rating in a research note on Tuesday. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. Finally, TD Securities reduced their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $70.00.

Brookfield Trading Down 1.7%

Shares of NYSE BN traded down $1.17 during midday trading on Friday, reaching $65.89. The stock had a trading volume of 1,165,127 shares, compared to its average volume of 2,639,535. The firm has a market cap of $108.63 billion, a price-to-earnings ratio of 235.07 and a beta of 1.66. Brookfield Corporation has a twelve month low of $42.21 and a twelve month high of $68.75. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. The company's 50 day moving average price is $61.85 and its 200 day moving average price is $57.46.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. As a group, sell-side analysts expect that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's payout ratio is 128.57%.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.