Horizon Kinetics Asset Management LLC Decreases Stock Position in Brookfield Corporation $BN

Horizon Kinetics Asset Management LLC cut its position in Brookfield Corporation (NYSE:BN) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,583,710 shares of the company’s stock after selling 65,561 shares during the quarter. Brookfield accounts for 1.0% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 17th largest position. Horizon Kinetics Asset Management LLC’s holdings in Brookfield were worth $72,676,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have commented on BN. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Morgan Stanley reiterated an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. National Bank Financial increased their price objective on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Scotiabank reiterated an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Finally, Scotia increased their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Trading Up 2.9%

NYSE BN opened at $45.50 on Wednesday. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. 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 market capitalization of $111.51 billion, a price-to-earnings ratio of 89.22 and a beta of 1.53. The company’s fifty day moving average price is $44.62 and its two-hundred day moving average price is $44.91.

Brookfield Dividend Announcement

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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s dividend payout ratio is 54.90%.

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.