AIA Group Ltd Acquires New Shares in Brookfield Corporation $BN

AIA Group Ltd acquired a new position in Brookfield Corporation (NYSE:BN) in the third quarter, HoldingsChannel reports. The fund acquired 71,768 shares of the company’s stock, valued at approximately $4,922,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. Norges Bank purchased a new position in Brookfield during the 2nd quarter valued at about $1,040,160,000. Lone Pine Capital LLC purchased a new stake in shares of Brookfield in the 2nd quarter worth approximately $347,683,000. Canada Pension Plan Investment Board lifted its position in shares of Brookfield by 132.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock worth $405,065,000 after purchasing an additional 3,727,628 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of Brookfield during the third quarter valued at approximately $171,104,000. Finally, Picton Mahoney Asset Management bought a new position in shares of Brookfield during the second quarter valued at approximately $140,555,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BN. Royal Bank Of Canada boosted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley reissued an “overweight” rating and issued a $60.00 price target on shares of Brookfield in a research report on Tuesday, February 17th. BMO Capital Markets upped their price objective on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. One investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $54.59.

Brookfield Price Performance

Shares of BN opened at $39.12 on Friday. The company has a 50 day moving average of $44.90 and a two-hundred day moving average of $45.45. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.56. The company has a market cap of $95.83 billion, a price-to-earnings ratio of 79.29 and a beta of 1.58.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. As a group, analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given 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 yield of 0.7%. This is an increase from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio is currently 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.