Shelter Mutual Insurance Co Invests $3.59 Million in Brookfield Corporation $BN

Key Points

• Shelter Mutual Insurance Co. acquired 84,196 shares of Brookfield Corporation in the second quarter, representing an investment of approximately $3.59 million.
• Institutional investors own 61.6% of Brookfield, with major holders including Partners Value Investments, Royal Bank of Canada, Vanguard and Capital World Investors increasing their positions.
• Analysts maintain a consensus “Buy” rating with an average price target of $56.91. Brookfield also exceeded quarterly EPS expectations and declared a $0.07-per-share dividend, equating to a 0.7% yield.

Shelter Mutual Insurance Co purchased a new stake in Brookfield Corporation (NYSE:BN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 84,196 shares of the company's stock, valued at approximately $3,586,000.

Several other hedge funds have also added to or reduced their stakes in BN. Partners Value Investments L.P. grew 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 acquiring an additional 60,468,651 shares during the period. Dodge & Cox bought a new position in shares of Brookfield during the 4th quarter valued at about $1,894,354,000. Royal Bank of Canada grew its position in shares of Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock valued at $5,215,504,000 after purchasing an additional 32,760,558 shares during the period. Vanguard Group Inc. increased its stake in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares in the last quarter. Finally, Capital World Investors raised its holdings in Brookfield by 45.0% during the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company's stock worth $4,546,443,000 after buying an additional 30,755,354 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Wall Street Analyst Weigh In

BN has been the subject of several research reports. National Bank Financial increased their price objective on shares of Brookfield from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Scotia upped their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 14th. Morgan Stanley set a $59.00 target price on Brookfield and gave the stock an "overweight" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price target on Brookfield from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada cut their price target on Brookfield from $63.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $56.91.

Brookfield Trading Up 0.9%

Brookfield stock opened at $41.73 on Friday. The stock has a 50-day simple moving average of $43.34 and a 200 day simple moving average of $43.79. The stock has a market capitalization of $102.31 billion, a P/E ratio of 75.87 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Analysts expect that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield's dividend payout ratio (DPR) is currently 50.91%.

About Brookfield

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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