JPMorgan Chase & Co. Acquires 1,186,839 Shares of Brookfield Corporation $BN

JPMorgan Chase & Co. grew its stake in Brookfield Corporation (NYSE:BN) by 22.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,572,428 shares of the company’s stock after purchasing an additional 1,186,839 shares during the quarter. JPMorgan Chase & Co. owned about 0.27% of Brookfield worth $450,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BN. Principal Financial Group Inc. lifted its stake in Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after buying an additional 799,440 shares during the period. Akre Capital Management LLC grew its position in shares of Brookfield by 0.7% during the 2nd quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock worth $1,188,713,000 after buying an additional 125,269 shares during the period. Norges Bank bought a new stake in shares of Brookfield in the 2nd quarter valued at about $1,040,160,000. Mackenzie Financial Corp raised its position in shares of Brookfield by 1.6% in the 2nd quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock valued at $1,010,616,000 after acquiring an additional 249,913 shares during the period. Finally, Bank of Nova Scotia raised its position in shares of Brookfield by 13.3% in the 2nd quarter. Bank of Nova Scotia now owns 13,263,185 shares of the company’s stock valued at $820,569,000 after acquiring an additional 1,556,042 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BN shares. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $52.00 price objective (up previously from $50.67) on shares of Brookfield in a report on Friday, November 14th. Scotiabank reissued an “outperform” rating and issued a $52.00 price target (up previously from $49.00) on shares of Brookfield in a report on Friday, February 13th. National Bank Financial raised their price objective on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $54.59.

Brookfield Price Performance

BN stock opened at $47.44 on Thursday. The stock has a 50-day moving average price of $46.61 and a two-hundred day moving average price of $45.67. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The stock has a market cap of $117.49 billion, a PE ratio of 96.16 and a beta of 1.57. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48.

Brookfield (NYSE:BN) last issued 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 company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. Equities analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. This is an increase from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio (DPR) is 57.14%.

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.