Truist Financial Corp Buys 54,378 Shares of Brookfield Corporation $BN

Key Points

• Truist Financial Corp increased its Brookfield stake by 44.3% in the fourth quarter, adding 54,378 shares to reach 177,026 shares valued at about $8.1 million.
• Brookfield reported better-than-expected quarterly earnings, posting $0.67 EPS versus the $0.61 consensus estimate, while revenue matched expectations at $1.63 billion.
• The company also raised its quarterly dividend to $0.07 per share from $0.06, and analysts currently rate the stock a Moderate Buy with an average price target of $55.65.

Truist Financial Corp lifted its stake in Brookfield Corporation (NYSE:BN - Free Report) by 44.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,026 shares of the company's stock after acquiring an additional 54,378 shares during the period. Truist Financial Corp's holdings in Brookfield were worth $8,124,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares during the period. Capital World Investors boosted its holdings in shares of Brookfield by 2.4% in the third quarter. Capital World Investors now owns 68,313,662 shares of the company's stock worth $4,685,103,000 after acquiring an additional 1,624,085 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company's stock worth $3,487,338,000 after acquiring an additional 799,440 shares during the period. Akre Capital Management LLC boosted its holdings in shares of Brookfield by 0.7% in the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company's stock worth $1,188,713,000 after acquiring an additional 125,269 shares during the period. Finally, Cibc World Market Inc. boosted its holdings in shares of Brookfield by 2.9% in the third quarter. Cibc World Market Inc. now owns 11,277,277 shares of the company's stock worth $773,396,000 after acquiring an additional 321,998 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Up 1.2%

Shares of BN stock opened at $47.05 on Friday. The business's fifty day moving average is $42.53 and its 200 day moving average is $44.90. Brookfield Corporation has a 52-week low of $37.54 and a 52-week high of $49.56. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. The company has a market capitalization of $115.31 billion, a PE ratio of 95.37 and a beta of 1.55.

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

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield's dividend payout ratio (DPR) is 57.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Zacks Research upgraded Brookfield from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. Scotiabank lowered their price objective on Brookfield from $52.00 to $48.50 and set a "sector outperform" rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Friday, March 27th. Finally, Royal Bank Of Canada increased their price objective on Brookfield from $60.00 to $63.00 and gave the stock an "outperform" rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $55.65.

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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