Arrowstreet Capital Limited Partnership Buys Shares of 172,120 Brookfield Corporation $BN

Arrowstreet Capital Limited Partnership bought a new stake in shares of Brookfield Corporation (NYSE:BN) in the second quarter, Holdings Channel reports. The fund bought 172,120 shares of the company’s stock, valued at approximately $10,653,000.

Several other large investors also recently modified their holdings of BN. Hilltop National Bank purchased a new position in Brookfield in the second quarter valued at approximately $30,000. Ameritas Advisory Services LLC purchased a new stake in Brookfield in the second quarter worth $33,000. Financial Gravity Companies Inc. bought a new stake in shares of Brookfield in the second quarter valued at $51,000. Brooklyn Investment Group purchased a new position in shares of Brookfield during the 1st quarter valued at $54,000. Finally, SouthState Corp lifted its position in shares of Brookfield by 734.8% during the 1st quarter. SouthState Corp now owns 1,127 shares of the company’s stock valued at $59,000 after buying an additional 992 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen cut Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. The Goldman Sachs Group initiated coverage on shares of Brookfield in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 target price for the company. Royal Bank Of Canada boosted their price target on shares of Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Monday. Finally, Zacks Research lowered shares of Brookfield from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $53.47.

Brookfield Price Performance

Shares of NYSE:BN opened at $46.67 on Wednesday. The company’s fifty day moving average price is $45.50 and its 200-day moving average price is $43.80. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.31 and a quick ratio of 1.19. The firm has a market capitalization of $115.54 billion, a price-to-earnings ratio of 129.63 and a beta of 1.57. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.47.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. On average, equities research analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, December 16th. Brookfield’s dividend payout ratio is presently 66.67%.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.