Healthcare of Ontario Pension Plan Trust Fund Trims Stake in Brookfield Corporation $BN

Healthcare of Ontario Pension Plan Trust Fund lowered its position in Brookfield Corporation (NYSE:BN - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,192,606 shares of the company's stock after selling 1,140,079 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.21% of Brookfield worth $210,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Partners Value Investments L.P. raised its holdings in shares of Brookfield by 50.0% in the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company's stock worth $8,324,719,000 after buying an additional 60,468,651 shares during the period. Royal Bank of Canada boosted its holdings in Brookfield by 40.5% during the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock valued at $5,215,504,000 after acquiring an additional 32,760,558 shares during the period. Capital World Investors grew its position in Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company's stock valued at $4,546,443,000 after acquiring an additional 30,755,354 shares during the last quarter. Vanguard Group Inc. grew its position in Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock valued at $4,228,915,000 after acquiring an additional 31,543,313 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Brookfield by 27.9% in the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company's stock worth $2,985,224,000 after purchasing an additional 14,200,710 shares during the period. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Trading Up 1.2%

BN opened at $41.69 on Friday. The stock's fifty day moving average is $44.12 and its two-hundred day moving average is $44.34. The company has a market capitalization of $102.18 billion, a P/E ratio of 81.74 and a beta of 1.54. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield's dividend payout ratio is presently 54.90%.

Analyst Ratings Changes

Several research firms have recently weighed in on BN. Scotiabank reiterated an "outperform" rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Royal Bank Of Canada cut their price target on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. TD Securities reaffirmed a "buy" rating and issued a $60.00 price target on shares of Brookfield in a research note on Tuesday, May 19th. TD raised their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, May 19th. Finally, Scotia lifted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a "sector outperform" rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $56.64.

Brookfield Company Profile

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.

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