Legal & General Group Plc Purchases 4,135,258 Shares of Brookfield Corporation $BN

Legal & General Group Plc grew its position in shares of Brookfield Corporation (NYSE:BN) by 56.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,494,884 shares of the company’s stock after buying an additional 4,135,258 shares during the quarter. Legal & General Group Plc’s holdings in Brookfield were worth $528,423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in shares of Brookfield during the 4th quarter worth approximately $27,000. Hilltop National Bank lifted its position in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after buying an additional 241 shares in the last quarter. New England Capital Financial Advisors LLC lifted its position in shares of Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after buying an additional 251 shares in the last quarter. Entrust Financial LLC bought a new position in shares of Brookfield during the 4th quarter worth approximately $35,000. Finally, ST Germain D J Co. Inc. raised its holdings in shares of Brookfield by 49.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 270 shares during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 0.0%

NYSE:BN opened at $45.37 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $111.19 billion, a PE ratio of 88.96 and a beta of 1.55. The firm’s 50 day moving average is $43.29 and its 200 day moving average is $44.88. Brookfield Corporation has a 12 month low of $37.54 and a 12 month high of $49.56.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s payout ratio is presently 54.90%.

Analysts Set New Price Targets

A number of research firms recently commented on BN. BMO Capital Markets lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. National Bank Financial lifted their price target on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, TD Securities reaffirmed a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.82.

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.