Brookfield Corporation (NYSE:BN) Shares Purchased by Malaga Cove Capital LLC

Key Points

• Malaga Cove Capital LLC increased its holdings in Brookfield Corporation by 185.7% in the first quarter, owning 10,881 shares valued at $570,000.
• Analysts have diverse opinions on Brookfield, with one sell rating, one hold, seven buy ratings, and one strong buy, leading to a consensus rating of "Moderate Buy" and a target price of $70.00.
• Brookfield recently announced a quarterly dividend of $0.09, resulting in an annualized yield of 0.6%, with a payout ratio currently at 128.57%.

Malaga Cove Capital LLC boosted its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 185.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,881 shares of the company's stock after buying an additional 7,072 shares during the quarter. Malaga Cove Capital LLC's holdings in Brookfield were worth $570,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Banco Santander S.A. bought a new position in Brookfield in the first quarter worth about $509,000. PNC Financial Services Group Inc. raised its position in shares of Brookfield by 7.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 178,082 shares of the company's stock valued at $9,333,000 after purchasing an additional 12,666 shares during the last quarter. TIAA Trust National Association raised its position in shares of Brookfield by 8.3% in the 1st quarter. TIAA Trust National Association now owns 23,021 shares of the company's stock valued at $1,207,000 after purchasing an additional 1,762 shares during the last quarter. Heritage Wealth Advisors raised its position in shares of Brookfield by 2.2% in the 1st quarter. Heritage Wealth Advisors now owns 1,095,778 shares of the company's stock valued at $57,430,000 after purchasing an additional 24,039 shares during the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Brookfield by 2.9% in the 1st quarter. Alberta Investment Management Corp now owns 4,458,782 shares of the company's stock valued at $233,310,000 after purchasing an additional 123,791 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

BN stock traded up $0.36 during midday trading on Wednesday, reaching $67.54. The stock had a trading volume of 2,486,442 shares, compared to its average volume of 2,639,472. The company's fifty day simple moving average is $62.39 and its 200 day simple moving average is $57.66. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The company has a market cap of $111.36 billion, a price-to-earnings ratio of 241.22 and a beta of 1.70. Brookfield Corporation has a 52-week low of $42.39 and a 52-week high of $68.75.

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

Brookfield Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen downgraded 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. Scotiabank increased their price target on shares of Brookfield from $69.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, National Bank Financial initiated coverage on shares of Brookfield in a research note on Tuesday, July 29th. They set an "outperform" rating and a $82.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.80.

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.