Swiss Life Asset Management Ltd Has $12.93 Million Holdings in Brookfield Corporation $BN

Key Points

• Swiss Life Asset Management raised its stake in Brookfield by 18.5% in Q3 to 188,142 shares, holdings valued at about $12.93 million.
• Brookfield increased its quarterly dividend to $0.07 (annualized $0.28) with an ex-dividend date of March 17 and payment on March 31, implying a ~0.7% yield.
• Analysts hold a consensus Moderate Buy on BN with an average target of $54.59, while the stock trades near $38.25 (market cap ≈ $93.7B, P/E ≈ 77.5) and was down ~2.2%.

Swiss Life Asset Management Ltd raised its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 18.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,142 shares of the company's stock after buying an additional 29,398 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Brookfield were worth $12,926,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BN. Triasima Portfolio Management inc. raised its holdings in shares of Brookfield by 9.0% during the third quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company's stock valued at $19,825,000 after acquiring an additional 23,923 shares during the period. PCJ Investment Counsel Ltd. boosted its stake in Brookfield by 110.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company's stock worth $15,966,000 after purchasing an additional 122,040 shares during the period. Citigroup Inc. boosted its stake in Brookfield by 49.5% in the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company's stock worth $45,817,000 after purchasing an additional 221,078 shares during the period. Picton Mahoney Asset Management grew its position in Brookfield by 15.3% during the 3rd quarter. Picton Mahoney Asset Management now owns 2,629,023 shares of the company's stock worth $180,351,000 after purchasing an additional 348,824 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Brookfield by 1.6% during the 3rd quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company's stock worth $3,487,338,000 after purchasing an additional 799,440 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Down 2.2%

Shares of NYSE:BN opened at $38.25 on Friday. The firm has a fifty day moving average of $44.71 and a two-hundred day moving average of $45.41. The firm has a market capitalization of $93.71 billion, a P/E ratio of 77.54 and a beta of 1.58. Brookfield Corporation has a 12-month low of $29.07 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.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. On average, equities analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. This is an increase from Brookfield's previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. Brookfield's dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BN shares. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Brookfield in a report on Monday, December 1st. Scotiabank reiterated an "outperform" rating and set a $52.00 price target (up from $49.00) on shares of Brookfield in a report on Friday, February 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research report on Monday, December 29th. Royal Bank Of Canada increased their price objective on Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Brookfield has a consensus rating of "Moderate Buy" and an average target price of $54.59.

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.

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