Bleakley Financial Group LLC Acquires 13,725 Shares of Brookfield Corporation $BN

Bleakley Financial Group LLC increased its position in shares of Brookfield Corporation (NYSE:BN) by 48.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,910 shares of the company’s stock after purchasing an additional 13,725 shares during the quarter. Bleakley Financial Group LLC’s holdings in Brookfield were worth $1,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares in the last quarter. Capital World Investors increased its stake in shares of Brookfield by 2.4% in the third quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock valued at $4,685,103,000 after buying an additional 1,624,085 shares during the period. Principal Financial Group Inc. boosted its holdings in Brookfield by 27.9% in the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock valued at $2,985,224,000 after acquiring an additional 14,200,710 shares during the last quarter. Akre Capital Management LLC boosted its holdings in Brookfield by 0.7% in the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock valued at $1,188,713,000 after acquiring an additional 125,269 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Brookfield by 8,784.9% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,747,973 shares of the company’s stock valued at $860,344,000 after acquiring an additional 18,536,964 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.2%

Shares of NYSE:BN opened at $46.09 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The firm has a market capitalization of $112.95 billion, a PE ratio of 90.36 and a beta of 1.55. The firm has a fifty day moving average of $43.70 and a 200 day moving average of $44.89. Brookfield Corporation has a 52-week low of $37.83 and a 52-week high of $49.56.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s dividend payout ratio is presently 54.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. TD Securities reissued a “buy” rating and issued a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. Morgan Stanley reissued an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. TD lifted their target price on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average price target of $56.82.

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.