Brookfield Corporation $BN Stock Position Raised by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its stake in Brookfield by 4.4% to 7,359,626 shares (about 0.30% of the company), valued at roughly $505.1 million at quarter-end.
• Brookfield raised its quarterly dividend from $0.06 to $0.07 (annualized $0.28, ~0.7% yield), with an ex‑dividend and record date of March 17 and payment on March 31.
• Brookfield beat quarterly EPS estimates ($0.67 vs. $0.61) while revenue was in line, and Wall Street holds a “Moderate Buy” consensus with a $54.59 target; the company has a market cap of about $102 billion and a PE of 84.39.

Legal & General Group Plc boosted its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,359,626 shares of the company's stock after acquiring an additional 310,864 shares during the quarter. Legal & General Group Plc owned 0.30% of Brookfield worth $505,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Brookfield during the 2nd quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC boosted its holdings in Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company's stock valued at $39,000 after purchasing an additional 330 shares during the period. First Horizon Corp bought a new position in Brookfield during the third quarter valued at about $40,000. Versant Capital Management Inc increased its position in shares of Brookfield by 507.5% during the third quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $45,000 after purchasing an additional 543 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in Brookfield in the 2nd quarter valued at $51,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Performance

Brookfield stock opened at $41.63 on Wednesday. The company has a market cap of $101.99 billion, a PE ratio of 84.39 and a beta of 1.58. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company's 50-day moving average is $46.01 and its two-hundred day moving average is $45.69.

Brookfield (NYSE:BN - Get Free Report) last announced 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 business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. Equities analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend 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 yield of 0.7%. Brookfield's payout ratio is presently 48.98%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BN. Morgan Stanley reissued an "overweight" rating and set a $60.00 price objective on shares of Brookfield in a report on Tuesday, February 17th. BMO Capital Markets increased their price target on Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, February 13th. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Brookfield in a research note on Monday, December 1st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.59.

Brookfield Company 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.

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