Brookfield Corporation $BN Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Brookfield Corporation (NYSE:BN) by 39.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,183,593 shares of the company’s stock after buying an additional 2,611,165 shares during the period. JPMorgan Chase & Co. owned approximately 0.37% of Brookfield worth $421,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital World Investors lifted its stake in shares of Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after buying an additional 30,755,354 shares during the period. Vanguard Group Inc. raised its holdings in shares of Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield by 27.9% during the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after purchasing an additional 14,200,710 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Brookfield by 46.3% during the fourth quarter. TD Asset Management Inc now owns 35,763,047 shares of the company’s stock worth $1,644,200,000 after purchasing an additional 11,323,960 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Brookfield during the fourth quarter worth $1,227,555,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BN. Scotia raised their target price on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Royal Bank Of Canada reduced their target price on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. TD raised their target price on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, BMO Capital Markets raised their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. One 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Down 1.8%

BN opened at $44.67 on Thursday. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The company has a fifty day moving average of $44.74 and a two-hundred day moving average of $44.92. The stock has a market capitalization of $109.47 billion, a price-to-earnings ratio of 87.59 and a beta of 1.53.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.07 dividend. 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%.

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.