Brookfield Corporation $BN is Principal Financial Group Inc.’s 5th Largest Position

Principal Financial Group Inc. raised its stake in Brookfield Corporation (NYSE:BN) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,849,914 shares of the company’s stock after purchasing an additional 799,440 shares during the period. Brookfield accounts for approximately 1.8% of Principal Financial Group Inc.’s investment portfolio, making the stock its 5th largest holding. Principal Financial Group Inc.’s holdings in Brookfield were worth $3,487,338,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in shares of Brookfield in the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Brookfield during the 2nd quarter worth approximately $32,000. Ameritas Advisory Services LLC purchased a new stake in Brookfield during the second quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC lifted its position in Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 330 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in Brookfield in the third quarter valued at approximately $40,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BN. BMO Capital Markets reaffirmed an “outperform” rating and set a $49.00 price target (up from $46.00) on shares of Brookfield in a research report on Wednesday, December 17th. Zacks Research upgraded Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Royal Bank Of Canada set a $58.00 price target on Brookfield and gave the company an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a report on Saturday. Finally, TD Securities boosted their price target on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Brookfield has an average rating of “Buy” and an average target price of $54.27.

Brookfield Stock Down 2.1%

Shares of BN stock opened at $45.56 on Friday. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.56. The firm has a market capitalization of $112.84 billion, a PE ratio of 126.56 and a beta of 1.58. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The stock’s 50-day simple moving average is $46.58 and its 200-day simple moving average is $45.49.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. Equities analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, December 16th. Brookfield’s dividend payout ratio is 66.67%.

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.