Bank of New York Mellon Corp Has $129.28 Million Stake in Brookfield Corporation (NYSE:BN)

Bank of New York Mellon Corp increased its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 1.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,466,685 shares of the company's stock after purchasing an additional 23,590 shares during the quarter. Bank of New York Mellon Corp owned 0.15% of Brookfield worth $129,279,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BN. Jones Financial Companies Lllp lifted its stake in Brookfield by 55.4% during the fourth quarter. Jones Financial Companies Lllp now owns 8,263 shares of the company's stock worth $475,000 after purchasing an additional 2,945 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Brookfield in the fourth quarter valued at $48,000. Amundi lifted its stake in Brookfield by 13.2% in the fourth quarter. Amundi now owns 855,761 shares of the company's stock valued at $49,959,000 after buying an additional 99,544 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Brookfield by 3.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 523,609 shares of the company's stock valued at $30,080,000 after buying an additional 19,650 shares during the last quarter. Finally, Independent Advisor Alliance lifted its stake in Brookfield by 2.9% in the fourth quarter. Independent Advisor Alliance now owns 9,856 shares of the company's stock valued at $566,000 after buying an additional 275 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

Shares of BN traded down $0.84 during trading hours on Friday, reaching $63.12. 1,665,380 shares of the company's stock traded hands, compared to its average volume of 2,461,325. The firm has a market capitalization of $104.02 billion, a price-to-earnings ratio of 225.43 and a beta of 1.66. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18. Brookfield Corporation has a twelve month low of $42.21 and a twelve month high of $64.55. The business's fifty day simple moving average is $59.20 and its two-hundred day simple moving average is $56.51.

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

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.57%. Brookfield's payout ratio is presently 128.57%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BN shares. TD Securities cut their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Scotiabank cut their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 7th. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. CIBC cut their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research note on Friday, May 9th. Finally, Royal Bank Of Canada started coverage on Brookfield in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Brookfield has an average rating of "Moderate Buy" and an average target price of $66.13.

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.