Brookfield Corporation $BN Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Brookfield Corporation by 18.9% in the first quarter, buying an additional 127,268 shares and bringing its total holding to 799,536 shares worth about $32.3 million.
• Several other institutional investors also added to or initiated positions in Brookfield, and 61.6% of the stock is now owned by institutions and hedge funds.
• Analysts remain generally positive on BN, with a consensus rating of Moderate Buy and an average price target of $56.64, while the stock recently traded at $41.69.

Cetera Investment Advisers lifted its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 18.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 799,536 shares of the company's stock after acquiring an additional 127,268 shares during the period. Cetera Investment Advisers' holdings in Brookfield were worth $32,306,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. First Trust Advisors LP grew its position in Brookfield by 15.5% during the 1st quarter. First Trust Advisors LP now owns 30,650 shares of the company's stock worth $1,240,000 after purchasing an additional 4,109 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Brookfield by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 241,955 shares of the company's stock valued at $9,792,000 after purchasing an additional 10,548 shares during the period. Oslo Pensjonsforsikring AS purchased a new stake in shares of Brookfield in the first quarter valued at about $357,000. WCM Investment Management LLC raised its holdings in shares of Brookfield by 454.4% in the first quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company's stock valued at $42,740,000 after buying an additional 904,701 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Brookfield by 8.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,290,509 shares of the company's stock worth $92,653,000 after buying an additional 182,628 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BN. JPMorgan Chase & Co. raised their price target on Brookfield from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the stock an "overweight" rating in a research report on Tuesday. Scotia lifted their target price on Brookfield from $48.50 to $53.00 and gave the company a "sector outperform" rating in a research note on Friday, May 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a report on Wednesday, June 24th. Finally, Scotiabank restated an "outperform" rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.64.

Brookfield Price Performance

Shares of NYSE:BN opened at $41.69 on Friday. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The company has a 50-day moving average price of $44.12 and a 200 day moving average price of $44.34. The company has a market cap of $102.18 billion, a P/E ratio of 81.74 and a beta of 1.54. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield's dividend payout ratio (DPR) is currently 54.90%.

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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