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

Truist Financial Corp raised its position in shares of Brookfield Corporation (NYSE:BN) by 44.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 177,026 shares of the company’s stock after acquiring an additional 54,378 shares during the quarter. Truist Financial Corp’s holdings in Brookfield were worth $8,124,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Bellecapital International Ltd. bought a new stake in Brookfield during the 4th quarter valued at approximately $281,000. Intact Investment Management Inc. boosted its position in Brookfield by 55.6% during the 4th quarter. Intact Investment Management Inc. now owns 311,305 shares of the company’s stock valued at $14,293,000 after acquiring an additional 111,205 shares in the last quarter. Montag A & Associates Inc. bought a new stake in Brookfield during the 4th quarter valued at approximately $270,000. CENTRAL TRUST Co lifted its holdings in shares of Brookfield by 45.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,705 shares of the company’s stock valued at $78,000 after purchasing an additional 534 shares during the last quarter. Finally, Carbahal Olsen Financial Services Group LLC lifted its holdings in shares of Brookfield by 50.0% during the fourth quarter. Carbahal Olsen Financial Services Group LLC now owns 11,443 shares of the company’s stock valued at $525,000 after purchasing an additional 3,814 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of BN opened at $47.05 on Friday. The firm has a market cap of $115.31 billion, a PE ratio of 95.37 and a beta of 1.55. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. The firm has a fifty day simple moving average of $42.53 and a two-hundred day simple moving average of $44.90. Brookfield Corporation has a 1-year low of $37.54 and a 1-year high of $49.56.

Brookfield (NYSE:BN) last announced its 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 net margin of 1.74% and a return on equity of 3.90%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, equities analysts anticipate that Brookfield Corporation will post 2.95 EPS for the current year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BN. Morgan Stanley reiterated an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. BMO Capital Markets lifted their target price on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 13th. National Bank Financial lifted their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Royal Bank Of Canada lifted their target price on shares of Brookfield from $60.00 to $63.00 and gave the company an “outperform” rating in a 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 assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus 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.