Malaga Cove Capital LLC Boosts Holdings in Brookfield Corporation (NYSE:BN)

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 raised its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 185.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,881 shares of the company's stock after acquiring 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 and Exchange Commission.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. National Bankshares set a $82.00 target price on shares of Brookfield and gave the company an "outperform" rating in a report on Tuesday. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Scotiabank reiterated an "outperform" rating and set a $75.00 price target (up from $69.00) on shares of Brookfield in a report on Wednesday. National Bank Financial assumed coverage on shares of Brookfield in a report on Tuesday. They set an "outperform" rating and a $82.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.00.

Brookfield Stock Performance

Shares of NYSE BN opened at $65.32 on Friday. Brookfield Corporation has a 12 month low of $42.21 and a 12 month high of $68.75. The company has a 50-day simple moving average of $62.02 and a 200-day simple moving average of $57.53. The company has a market cap of $107.70 billion, a PE ratio of 233.29 and a beta of 1.70. 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 (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, 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 analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, June 13th. Brookfield's payout ratio is presently 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.

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