Massachusetts Financial Services Co. MA Acquires 30,680 Shares of Brookfield Corporation (NYSE:BN)

Massachusetts Financial Services Co. MA raised its stake in Brookfield Corporation (NYSE:BN - Free Report) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,524,840 shares of the company's stock after purchasing an additional 30,680 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.15% of Brookfield worth $132,327,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Brookfield in the first quarter valued at about $26,000. North Capital Inc. acquired a new position in Brookfield in the first quarter valued at approximately $27,000. ST Germain D J Co. Inc. acquired a new position in shares of Brookfield during the first quarter worth approximately $28,000. CoreCap Advisors LLC acquired a new position in shares of Brookfield during the fourth quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Brookfield by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after buying an additional 296 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

Brookfield stock traded down $0.84 on Friday, reaching $67.30. 1,946,785 shares of the stock were exchanged, compared to its average volume of 2,456,358. The firm has a fifty day moving average price of $60.13 and a two-hundred day moving average price of $56.76. The stock has a market cap of $110.91 billion, a PE ratio of 240.36 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 Corporation has a twelve month low of $42.21 and a twelve month high of $68.66.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. Sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is presently 128.57%.

Analysts Set New Price Targets

Several brokerages recently commented on BN. JPMorgan Chase & Co. dropped their target price on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Wall Street Zen downgraded shares of Brookfield from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. TD Securities lowered their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Finally, Scotiabank decreased their price objective 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.13.

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.