Cibc World Market Inc. Acquires 6,546,935 Shares of Brookfield Corporation $BN

Cibc World Market Inc. lifted its holdings in shares of Brookfield Corporation (NYSE:BN) by 58.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,824,212 shares of the company’s stock after acquiring an additional 6,546,935 shares during the quarter. Brookfield makes up about 1.3% of Cibc World Market Inc.’s portfolio, making the stock its 16th biggest holding. Cibc World Market Inc. owned 0.72% of Brookfield worth $817,953,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares during the last quarter. Capital World Investors lifted its holdings in Brookfield by 2.4% during the 3rd quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock worth $4,685,103,000 after purchasing an additional 1,624,085 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after purchasing an additional 14,200,710 shares during the last quarter. Norges Bank acquired a new stake in Brookfield during the 4th quarter worth approximately $1,227,555,000. Finally, Geode Capital Management LLC lifted its holdings in Brookfield by 61.0% during the 4th quarter. Geode Capital Management LLC now owns 19,679,423 shares of the company’s stock worth $913,592,000 after purchasing an additional 7,459,189 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of NYSE BN opened at $43.88 on Thursday. The stock has a market capitalization of $107.53 billion, a PE ratio of 86.03 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. The business has a fifty day moving average price of $44.19 and a two-hundred day moving average price of $44.87. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.07 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is presently 54.90%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Morgan Stanley reissued an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. National Bank Financial lifted their price target on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. TD lifted their price target on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Company 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.