Brookfield Corporation (NYSE:BN) Shares Bought by LGT Capital Partners LTD.

Key Points

• LGT Capital Partners LTD. increased its stake in Brookfield Corporation by 0.8%, now holding approximately $38.2 million in shares, which makes Brookfield 17th in its portfolio.
• Analysts rate Brookfield Corporation's stock with an average of "Moderate Buy" and a target price of $70.00, with recent price targets ranging from $72.00 to $82.00.
• Brookfield announced a quarterly dividend of $0.09 per share, resulting in an annual yield of 0.6% and a payout ratio of 128.57%.

LGT Capital Partners LTD. lifted its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 730,000 shares of the company's stock after purchasing an additional 6,000 shares during the quarter. Brookfield accounts for approximately 1.7% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 17th biggest holding. LGT Capital Partners LTD.'s holdings in Brookfield were worth $38,202,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Brookfield by 16.6% in the first quarter. GAMMA Investing LLC now owns 2,282 shares of the company's stock worth $120,000 after acquiring an additional 325 shares during the last quarter. Inscription Capital LLC acquired a new stake in Brookfield in the 1st quarter valued at $285,000. Assenagon Asset Management S.A. grew its position in Brookfield by 0.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 43,333 shares of the company's stock valued at $2,267,000 after purchasing an additional 297 shares during the period. Golden State Wealth Management LLC boosted its holdings in Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after acquiring an additional 296 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Brookfield by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,466,685 shares of the company's stock worth $129,279,000 after acquiring an additional 23,590 shares during the last quarter. Institutional investors own 61.60% of the company's stock.

Brookfield Trading Down 0.2%

Brookfield stock traded down $0.11 during trading on Tuesday, reaching $66.51. 612,382 shares of the company were exchanged, compared to its average volume of 2,626,785. Brookfield Corporation has a 52-week low of $42.39 and a 52-week high of $68.75. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18. The company has a market capitalization of $109.66 billion, a P/E ratio of 237.75 and a beta of 1.70. The stock's 50 day simple moving average is $62.21 and its two-hundred day simple moving average is $57.60.

Brookfield (NYSE:BN - Get Free Report) last posted its earnings results 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 business had revenue of $1.37 billion during 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 research analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is 128.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BN. National Bank Financial began coverage on Brookfield in a research report on Tuesday, July 29th. They set an "outperform" rating and a $82.00 price target on the stock. Wall Street Zen cut shares of Brookfield from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Royal Bank Of Canada assumed coverage on Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price objective for the company. Finally, Scotiabank lifted their price target on Brookfield from $69.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and a consensus price target of $70.00.

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.