Principal Financial Group Inc. Has $2.99 Billion Stock Holdings in Brookfield Corporation $BN

Key Points

• Principal Financial Group raised its stake in Brookfield by 27.9% in Q4, buying 14,200,710 shares to hold 65,050,624 shares — about 2.63% of Brookfield worth roughly $2.985 billion, making BN its sixth-largest holding (~1.5% of Principal’s portfolio).
• Brookfield reported Q4 EPS of $0.67, beating estimates by $0.06, and recently increased its quarterly dividend to $0.07 (annualized $0.28, ~0.6% yield).
• The company has a market cap of $110.36 billion and a high P/E of 91.28; analysts have an average rating of “Moderate Buy” with a consensus target price of $55.65.

Principal Financial Group Inc. raised its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,050,624 shares of the company's stock after purchasing an additional 14,200,710 shares during the quarter. Brookfield accounts for about 1.5% of Principal Financial Group Inc.'s holdings, making the stock its 6th biggest holding. Principal Financial Group Inc. owned approximately 2.63% of Brookfield worth $2,985,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new stake in Brookfield during the fourth quarter valued at approximately $27,000. Hilltop National Bank raised its stake in shares of Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company's stock worth $33,000 after acquiring an additional 241 shares in the last quarter. New England Capital Financial Advisors LLC raised its stake in shares of Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company's stock worth $34,000 after acquiring an additional 251 shares in the last quarter. ST Germain D J Co. Inc. raised its stake in shares of Brookfield by 49.9% during the fourth quarter. ST Germain D J Co. Inc. now owns 811 shares of the company's stock worth $37,000 after acquiring an additional 270 shares in the last quarter. Finally, First Horizon Corp purchased a new position in shares of Brookfield during the third quarter worth approximately $40,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Down 0.4%

Shares of NYSE BN opened at $45.03 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. Brookfield Corporation has a 52 week low of $35.95 and a 52 week high of $49.56. The firm's fifty day moving average is $42.45 and its 200 day moving average is $44.87. The company has a market cap of $110.36 billion, a price-to-earnings ratio of 91.28 and a beta of 1.55.

Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. On average, equities research analysts expect that Brookfield Corporation will post 2.95 earnings per share for the current year.

Brookfield Increases Dividend

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

Wall Street Analyst Weigh In

BN has been the topic of several research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research note on Friday, March 27th. Royal Bank Of Canada lifted their price target on shares of Brookfield from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Zacks Research raised shares of Brookfield from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. Scotiabank decreased 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 note on Wednesday, March 25th. Finally, Wall Street Zen raised shares of Brookfield from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. 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 stock. Based on data from MarketBeat, Brookfield presently has an average rating of "Moderate Buy" and a consensus target price of $55.65.

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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