Bessemer Group Inc. Has $229.12 Million Stock Holdings in Brookfield Corporation $BN

Bessemer Group Inc. cut its stake in Brookfield Corporation (NYSE:BN) by 20.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,661,500 shares of the company’s stock after selling 1,459,259 shares during the period. Bessemer Group Inc.’s holdings in Brookfield were worth $229,120,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BN. MCF Advisors LLC acquired a new stake in shares of Brookfield in the 4th quarter valued at $26,000. Quattro Advisors LLC acquired a new stake in shares of Brookfield during the 4th quarter worth about $26,000. Exchange Traded Concepts LLC acquired a new stake in shares of Brookfield during the 4th quarter worth about $27,000. Truvestments Capital LLC lifted its holdings in Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Finally, Hilltop National Bank lifted its holdings in Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

BN stock opened at $44.28 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. The company has a 50 day moving average price of $44.61 and a 200 day moving average price of $44.50. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56. The stock has a market capitalization of $108.53 billion, a PE ratio of 86.82 and a beta of 1.54.

Brookfield Announces Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. TD Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. National Bank Financial lifted their price objective on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Finally, Scotia increased their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus 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.