Clearbridge Investments LLC Acquires 893,726 Shares of Brookfield Corporation $BN

Clearbridge Investments LLC lifted its holdings in shares of Brookfield Corporation (NYSE:BN) by 45.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,851,937 shares of the company’s stock after purchasing an additional 893,726 shares during the period. Clearbridge Investments LLC owned 0.12% of Brookfield worth $130,875,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Chemistry Wealth Management LLC lifted its stake in shares of Brookfield by 51.6% during the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after acquiring an additional 148,893 shares during the period. PCJ Investment Counsel Ltd. lifted its stake in shares of Brookfield by 110.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after acquiring an additional 122,040 shares during the period. Florida Trust Wealth Management Co lifted its stake in shares of Brookfield by 49.0% during the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after acquiring an additional 387,068 shares during the period. Citigroup Inc. lifted its stake in shares of Brookfield by 49.5% during the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after acquiring an additional 221,078 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after acquiring an additional 31,543,313 shares during the period. Institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BN. TD Securities reissued a “buy” rating and issued a $60.00 target price on shares of Brookfield in a research note on Tuesday, May 19th. National Bank Financial upped their target price on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. BMO Capital Markets upped their target price on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Scotiabank reaffirmed an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Down 0.0%

BN stock opened at $44.60 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The business has a 50 day moving average price of $44.40 and a two-hundred day moving average price of $44.89. The company has a market cap of $109.30 billion, a price-to-earnings ratio of 87.45 and a beta of 1.53. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56.

Brookfield Dividend Announcement

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

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.