EdgePoint Investment Group Inc. Has $37.12 Million Holdings in Brookfield Corporation $BN

Key Points

• EdgePoint Investment Group trimmed its stake in Brookfield by 5% in Q3 to 541,974 shares valued at $37.12 million, representing about 0.3% of EdgePoint’s portfolio and its 28th largest holding.
• Analysts are generally positive on Brookfield with a consensus rating of Moderate Buy and an average price target of $54.59, as several firms (BMO, National Bank, RBC) recently raised targets and most analysts rate the stock Buy or Strong Buy.
• Brookfield raised its quarterly dividend to $0.07 from $0.06 (ex-dividend Mar 17, pay Mar 31) and reported quarterly EPS of $0.67, topping estimates of $0.61.

EdgePoint Investment Group Inc. cut its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 541,974 shares of the company's stock after selling 28,502 shares during the period. Brookfield makes up approximately 0.3% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 28th largest holding. EdgePoint Investment Group Inc.'s holdings in Brookfield were worth $37,124,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Brookfield during the second quarter worth about $32,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company's stock valued at $39,000 after purchasing an additional 330 shares during the period. First Horizon Corp bought a new stake in Brookfield during the 3rd quarter worth approximately $40,000. Versant Capital Management Inc increased its stake in Brookfield by 507.5% during the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company's stock worth $45,000 after purchasing an additional 543 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in Brookfield during the 2nd quarter worth approximately $51,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Brookfield in a report on Monday, December 1st. National Bank Financial boosted their price objective on shares of Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Royal Bank Of Canada upped their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Brookfield presently has a consensus rating of "Moderate Buy" and an average price target of $54.59.

Brookfield Price Performance

Shares of BN opened at $38.38 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.56. The stock has a market capitalization of $94.01 billion, a P/E ratio of 77.79 and a beta of 1.58. The company has a 50 day moving average of $45.60 and a 200-day moving average of $45.59.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, equities research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.07 per share. This is a boost from Brookfield's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield's payout ratio is presently 48.98%.

About Brookfield

Brookfield Corporation NYSE: BN is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield's services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.