Mitsubishi UFJ Trust & Banking Corp Acquires 246,460 Shares of Brookfield Corporation $BN

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 904,532 shares of the company's stock after acquiring an additional 246,460 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Brookfield were worth $41,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Brookfield by 52.1% in the fourth 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 period. Capital World Investors increased its stake in Brookfield by 2.4% in the third quarter. Capital World Investors now owns 68,313,662 shares of the company's stock valued at $4,685,103,000 after acquiring an additional 1,624,085 shares during the period. Principal Financial Group Inc. increased its stake in Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company's stock valued at $3,487,338,000 after acquiring an additional 799,440 shares during the period. Akre Capital Management LLC increased its stake in Brookfield by 0.7% in the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company's stock valued at $1,188,713,000 after acquiring an additional 125,269 shares during the period. Finally, Cibc World Market Inc. increased its stake in Brookfield by 2.9% in the third quarter. Cibc World Market Inc. now owns 11,277,277 shares of the company's stock valued at $773,396,000 after acquiring an additional 321,998 shares during the period. Institutional investors own 61.60% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on BN. Royal Bank Of Canada upped their target price on shares of Brookfield from $60.00 to $63.00 and gave the company an "outperform" rating in a research note on Monday, April 20th. Scotiabank reduced their price target on shares of Brookfield from $52.00 to $48.50 and set a "sector outperform" rating on the stock in a research report on Wednesday, March 25th. National Bank Financial boosted their price target 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. Morgan Stanley restated an "overweight" rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.65.

Brookfield Price Performance

NYSE:BN opened at $44.18 on Wednesday. The firm has a market cap of $108.28 billion, a PE ratio of 89.56 and a beta of 1.56. Brookfield Corporation has a 12 month low of $34.88 and a 12 month high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The company's 50-day moving average price is $42.55 and its two-hundred day moving average price is $44.88.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. On average, equities analysts anticipate that Brookfield Corporation will post 2.95 EPS for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a $0.07 dividend. This is a boost from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 17th. Brookfield's payout ratio is presently 57.14%.

Brookfield 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.

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.