Park Avenue Securities LLC Raises Stake in Brookfield Corporation $BN

Park Avenue Securities LLC raised its position in Brookfield Corporation (NYSE:BN) by 45.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,694 shares of the company’s stock after purchasing an additional 16,970 shares during the period. Park Avenue Securities LLC’s holdings in Brookfield were worth $2,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in Brookfield in the second quarter valued at $32,000. First Horizon Corp purchased a new position in shares of Brookfield in the 3rd quarter valued at about $40,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 330 shares in the last quarter. Versant Capital Management Inc lifted its stake in Brookfield by 507.5% during the third quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after purchasing an additional 543 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in Brookfield by 210.6% in the third quarter. Assetmark Inc. now owns 963 shares of the company’s stock valued at $66,000 after purchasing an additional 653 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

BN stock opened at $39.46 on Tuesday. The company has a market capitalization of $96.66 billion, a P/E ratio of 79.98 and a beta of 1.58. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.56. The business has a 50 day simple moving average of $44.54 and a 200-day simple moving average of $45.40. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. As a group, equities analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is 57.14%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BN. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. BMO Capital Markets increased their target price on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating and set a $60.00 price target on shares of Brookfield in a research note on Tuesday, February 17th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. Finally, Royal Bank Of Canada upped their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $54.59.

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.