Bank of New York Mellon Corp Purchases 658,802 Shares of Brookfield Corporation $BN

Bank of New York Mellon Corp increased its holdings in shares of Brookfield Corporation (NYSE:BN) by 50.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,952,645 shares of the company’s stock after purchasing an additional 658,802 shares during the quarter. Bank of New York Mellon Corp’s holdings in Brookfield were worth $89,607,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of BN. Exchange Traded Concepts LLC bought a new stake in shares of Brookfield in the fourth quarter worth about $27,000. Hilltop National Bank lifted its position in Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after buying an additional 241 shares during the last quarter. New England Capital Financial Advisors LLC boosted its stake in shares of Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares during the period. Entrust Financial LLC purchased a new stake in shares of Brookfield in the fourth quarter worth approximately $35,000. Finally, ST Germain D J Co. Inc. lifted its position in shares of Brookfield by 49.9% during the fourth quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 270 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BN. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Scotia upped their target price on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Royal Bank Of Canada cut their price target on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Finally, Scotiabank reissued an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.82.

Brookfield Stock Down 0.8%

Shares of BN opened at $44.24 on Tuesday. The firm has a market cap of $108.41 billion, a P/E ratio of 86.74 and a beta of 1.53. The stock’s 50 day moving average is $44.49 and its two-hundred day moving average is $44.90. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56.

Brookfield Dividend Announcement

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

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.