Vontobel Holding Ltd. purchased a new stake in Brookfield Corporation (NYSE:BN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,480 shares of the company's stock, valued at approximately $496,000.
Several other hedge funds have also recently bought and sold shares of BN. Norges Bank bought a new stake in shares of Brookfield in the fourth quarter worth $973,591,000. Geode Capital Management LLC increased its stake in Brookfield by 32.0% during the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock valued at $460,489,000 after purchasing an additional 1,930,218 shares during the last quarter. Capital World Investors increased its stake in Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company's stock valued at $3,390,786,000 after purchasing an additional 1,782,034 shares during the last quarter. Bessemer Group Inc. increased its stake in Brookfield by 51.9% during the fourth quarter. Bessemer Group Inc. now owns 4,839,267 shares of the company's stock valued at $278,016,000 after purchasing an additional 1,652,935 shares during the last quarter. Finally, FIL Ltd increased its stake in Brookfield by 8.8% during the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company's stock valued at $1,169,912,000 after purchasing an additional 1,640,903 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.
Brookfield Price Performance
Shares of NYSE BN traded down $0.86 during midday trading on Wednesday, reaching $61.94. 1,094,371 shares of the company traded hands, compared to its average volume of 2,446,345. The firm has a market cap of $102.08 billion, a PE ratio of 221.18 and a beta of 1.66. The stock's 50-day simple moving average is $58.83 and its 200-day simple moving average is $56.42. Brookfield Corporation has a 12 month low of $42.21 and a 12 month high of $64.55. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30.
Brookfield (NYSE:BN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, equities analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.
Brookfield Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, June 13th. Brookfield's dividend payout ratio is currently 128.57%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on BN. JPMorgan Chase & Co. reduced their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Royal Bank Of Canada began coverage on shares of Brookfield in a report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target for the company. Scotiabank reduced their price target on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Finally, TD Securities reduced their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Brookfield currently has an average rating of "Moderate Buy" and an average target price of $66.13.
Get Our Latest Research Report on BN
Brookfield Profile
(
Free Report)
Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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