Brookfield Corporation (NYSE:BN) is Alberta Investment Management Corp's 5th Largest Position

Key Points

• Alberta Investment Management Corp increased its stake in Brookfield Corporation by 2.9% in Q1, owning 4.46 million shares, making it the fund's fifth largest position.
• Multiple hedge funds, including Capital World Investors and Geode Capital Management, have also increased their stakes in Brookfield, contributing to hedge funds owning approximately 61.60% of the stock.
• Brookfield recently declared a $0.09 quarterly dividend with a payout ratio of 128.57%, highlighting the firm’s commitment to returning value to shareholders.

Alberta Investment Management Corp increased its position in Brookfield Corporation (NYSE:BN - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,458,782 shares of the company's stock after acquiring an additional 123,791 shares during the period. Brookfield comprises approximately 1.6% of Alberta Investment Management Corp's holdings, making the stock its 5th largest position. Alberta Investment Management Corp owned approximately 0.27% of Brookfield worth $233,310,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors grew its position in Brookfield by 3.1% in the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after purchasing an additional 1,782,034 shares during the period. TD Asset Management Inc grew its position in Brookfield by 1.5% in the 1st quarter. TD Asset Management Inc now owns 24,584,311 shares of the company's stock worth $1,286,395,000 after purchasing an additional 354,171 shares during the period. FIL Ltd grew its position 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 purchasing an additional 1,640,903 shares during the period. The Manufacturers Life Insurance Company grew its position in Brookfield by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company's stock worth $682,497,000 after purchasing an additional 129,735 shares during the period. Finally, Geode Capital Management LLC grew its position in Brookfield by 32.0% in the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock worth $460,489,000 after purchasing an additional 1,930,218 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BN shares. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the company an "outperform" rating in a research report on Tuesday. CIBC cut their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Brookfield from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Royal Bank Of Canada started coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Brookfield presently has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Brookfield Stock Down 0.7%

BN opened at $66.99 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. Brookfield Corporation has a fifty-two week low of $42.21 and a fifty-two week high of $68.75. The firm's fifty day moving average is $61.85 and its 200 day moving average is $57.46. The stock has a market cap of $110.45 billion, a price-to-earnings ratio of 239.25 and a beta of 1.66.

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

Brookfield Announces Dividend

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

About Brookfield

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.

Want to see what other hedge funds are holding BN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Corporation (NYSE:BN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.