Royal Bank of Canada Acquires 122,628 Shares of Brookfield Corporation $BN

Key Points

• Royal Bank of Canada increased its Brookfield stake by 122,628 shares to 113.8 million shares, representing a 4.64% ownership interest valued at approximately $4.60 billion.
• Institutional ownership remains substantial at 61.6%, with Partners Value Investments, Vanguard, Capital World Investors and others making significant additions or initiating positions.
• Analysts maintain a positive outlook, with Brookfield receiving a “Moderate Buy” consensus rating and an average price target of $56.64, while the company continues paying a quarterly dividend of $0.07 per share.

Royal Bank of Canada grew its stake in Brookfield Corporation (NYSE:BN - Free Report) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 113,774,934 shares of the company's stock after purchasing an additional 122,628 shares during the quarter. Brookfield comprises approximately 0.8% of Royal Bank of Canada's holdings, making the stock its 18th largest holding. Royal Bank of Canada owned 4.64% of Brookfield worth $4,604,472,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Partners Value Investments L.P. lifted its stake in Brookfield by 50.0% in the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company's stock valued at $8,324,719,000 after buying an additional 60,468,651 shares during the period. Dodge & Cox acquired a new position in shares of Brookfield during the 4th quarter worth about $1,894,354,000. Vanguard Group Inc. increased its stake in shares of Brookfield by 52.1% in the 4th 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 last quarter. Capital World Investors increased its stake in shares of Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company's stock valued at $4,546,443,000 after acquiring an additional 30,755,354 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Brookfield in the 4th quarter valued at approximately $1,227,555,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Royal Bank Of Canada lowered their target price on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Scotiabank reissued an "outperform" rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Finally, TD boosted their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.64.

Brookfield Stock Performance

BN opened at $42.47 on Wednesday. The company has a market capitalization of $104.09 billion, a price-to-earnings ratio of 83.26 and a beta of 1.54. The business's 50-day moving average price is $44.02 and its two-hundred day moving average price is $44.23. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.07 per share. The ex-dividend date was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield's dividend payout ratio (DPR) is presently 54.90%.

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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