Principal Financial Group Inc. Has $2.58 Billion Stock Holdings in Brookfield Corporation $BN

Principal Financial Group Inc. cut its holdings in shares of Brookfield Corporation (NYSE:BN) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,823,308 shares of the company’s stock after selling 1,227,316 shares during the quarter. Brookfield comprises 1.4% of Principal Financial Group Inc.’s portfolio, making the stock its 7th biggest holding. Principal Financial Group Inc.’s holdings in Brookfield were worth $2,582,913,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BN. Chemistry Wealth Management LLC raised its position in shares of Brookfield by 51.6% in the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after purchasing an additional 148,893 shares during the period. Florida Trust Wealth Management Co boosted its holdings 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 buying an additional 387,068 shares during the period. Vanguard Group Inc. grew its stake in Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after buying an additional 31,543,313 shares during the last quarter. Lincluden Management Ltd. grew its stake in Brookfield by 44.2% in the 4th quarter. Lincluden Management Ltd. now owns 763,376 shares of the company’s stock valued at $35,031,000 after buying an additional 233,997 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Brookfield by 22.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,572,428 shares of the company’s stock valued at $450,737,000 after acquiring an additional 1,186,839 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE BN opened at $43.38 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 firm has a market capitalization of $106.34 billion, a price-to-earnings ratio of 85.06 and a beta of 1.54. The firm’s 50 day simple moving average is $44.74 and its 200 day simple moving average is $44.56. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.07 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is presently 54.90%.

Analysts Set New Price Targets

BN has been the subject of several research reports. Morgan Stanley restated an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Scotiabank reiterated an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. Scotia boosted their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Finally, TD upped their price objective on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target 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.