Russell Investments Group Ltd. Has $43.72 Million Holdings in Brookfield Corporation $BN

Russell Investments Group Ltd. cut its position in Brookfield Corporation (NYSE:BN) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 635,803 shares of the company’s stock after selling 60,148 shares during the period. Russell Investments Group Ltd.’s holdings in Brookfield were worth $43,720,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after acquiring an additional 11,069 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after purchasing an additional 295 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Brookfield by 32.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after purchasing an additional 1,396 shares during the period. Savant Capital LLC bought a new stake in shares of Brookfield in the 2nd quarter valued at about $214,000. Finally, Prospera Financial Services Inc lifted its stake in Brookfield by 24.4% in the 2nd quarter. Prospera Financial Services Inc now owns 7,875 shares of the company’s stock valued at $487,000 after purchasing an additional 1,543 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on BN. National Bank Financial raised their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Scotiabank restated an “outperform” rating and issued a $52.00 price objective (up from $49.00) on shares of Brookfield in a research note on Friday, February 13th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $60.00 target price on shares of Brookfield in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $54.59.

Brookfield Stock Performance

NYSE BN opened at $40.54 on Thursday. The stock has a market cap of $99.32 billion, a PE ratio of 82.18 and a beta of 1.58. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.21 and a current ratio of 1.32. The firm has a 50-day moving average of $45.91 and a 200-day moving average of $45.66. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly 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. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is currently 57.14%.

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.