Bamco Inc. NY Purchases 1,233,637 Shares of Brookfield Corporation $BN

Bamco Inc. NY lifted its stake in shares of Brookfield Corporation (NYSE:BN) by 51.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,635,917 shares of the company’s stock after purchasing an additional 1,233,637 shares during the quarter. Bamco Inc. NY owned about 0.15% of Brookfield worth $166,852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chemistry Wealth Management LLC boosted its position in shares of Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after purchasing an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its position in shares of Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after purchasing an additional 122,040 shares in the last quarter. Florida Trust Wealth Management Co boosted its position in shares of Brookfield by 49.0% during the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after purchasing an additional 387,068 shares in the last quarter. Citigroup Inc. boosted its position in shares of Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after purchasing an additional 221,078 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Brookfield by 52.1% during the 4th 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 in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 2.0%

NYSE:BN opened at $44.75 on Thursday. 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 firm has a market cap of $109.68 billion, a price-to-earnings ratio of 87.74 and a beta of 1.53. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The firm has a 50-day moving average price of $45.19 and a two-hundred day moving average price of $44.90.

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 paid a $0.07 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is 54.90%.

Analyst Ratings Changes

BN has been the topic of a number of research analyst reports. TD Securities reissued a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Morgan Stanley restated an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. JPMorgan Chase & Co. upped their target price 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, National Bank Financial upped their target price on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

Brookfield 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.