TD Asset Management Inc Buys 354,171 Shares of Brookfield Corporation (NYSE:BN)

Key Points

• TD Asset Management Inc increased its holdings in Brookfield Corporation by 1.5%, acquiring an additional 354,171 shares, and now owns approximately $1.29 billion worth of the company's stock.
• Brookfield has received mixed reviews from analysts, with price targets ranging from $66.13 to $81.00, and a consensus rating of "Moderate Buy."
• The company declared a quarterly dividend of $0.09 per share, with a reported annualized yield of 0.53% and a dividend payout ratio of 128.57%.

TD Asset Management Inc grew its stake in Brookfield Corporation (NYSE:BN - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,584,311 shares of the company's stock after purchasing an additional 354,171 shares during the quarter. Brookfield makes up approximately 1.2% of TD Asset Management Inc's holdings, making the stock its 14th biggest holding. TD Asset Management Inc owned about 1.49% of Brookfield worth $1,286,395,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms have commented on BN. CIBC decreased their target price 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. Royal Bank Of Canada started coverage on Brookfield in a research note on Wednesday, June 18th. They set an "outperform" rating and a $81.00 target price for the company. Wall Street Zen cut shares of Brookfield from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Scotiabank reduced their target price on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Finally, TD Securities dropped their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.13.

Brookfield Stock Down 0.1%

BN stock traded down $0.05 during midday trading on Monday, reaching $67.55. The company had a trading volume of 2,291,945 shares, compared to its average volume of 2,288,328. The company has a 50 day moving average of $61.27 and a two-hundred day moving average of $57.24. Brookfield Corporation has a 1 year low of $42.21 and a 1 year high of $68.75. The company has a market capitalization of $111.37 billion, a P/E ratio of 16.17 and a beta of 1.66. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly 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 firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. 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 declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, June 13th. Brookfield's dividend payout ratio is currently 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.