Gold Investment Management Ltd. grew its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 7.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,456 shares of the company's stock after buying an additional 6,643 shares during the period. Brookfield accounts for about 2.2% of Gold Investment Management Ltd.'s holdings, making the stock its 8th largest holding. Gold Investment Management Ltd.'s holdings in Brookfield were worth $5,154,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Brookfield by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock valued at $3,443,129,000 after buying an additional 974,533 shares during the last quarter. Capital World Investors boosted its stake 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 valued at $3,390,786,000 after buying an additional 1,782,034 shares during the period. FIL Ltd raised its holdings in Brookfield by 8.8% in the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company's stock worth $1,169,912,000 after acquiring an additional 1,640,903 shares during the period. Norges Bank bought a new position in shares of Brookfield during the 4th quarter worth about $973,591,000. Finally, The Manufacturers Life Insurance Company boosted its position 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. Institutional investors and hedge funds own 61.60% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on BN shares. TD Securities decreased their target price on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. CIBC lowered their target price on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. Royal Bank Of Canada initiated coverage on shares of Brookfield in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Brookfield has an average rating of "Moderate Buy" and a consensus price target of $66.13.
Read Our Latest Stock Analysis on Brookfield
Brookfield Stock Performance
Brookfield stock traded up $0.52 during mid-day trading on Friday, hitting $61.62. 1,616,716 shares of the company's stock traded hands, compared to its average volume of 2,445,230. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. The company has a market cap of $101.54 billion, a PE ratio of 220.05 and a beta of 1.66. The firm has a 50 day moving average price of $57.26 and a 200 day moving average price of $56.16. Brookfield Corporation has a one year low of $40.82 and a one year high of $62.78.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. On average, equities analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.
Brookfield Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.58%. Brookfield's payout ratio is presently 128.57%.
Brookfield Company Profile
(
Free Report)
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.
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