Rockefeller Capital Management L.P. Acquires 133,289 Shares of Brookfield Corporation $BN

Rockefeller Capital Management L.P. raised its holdings in Brookfield Corporation (NYSE:BN) by 56.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 370,308 shares of the company’s stock after acquiring an additional 133,289 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Brookfield were worth $16,993,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BN. Chemistry Wealth Management LLC raised its position in Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after purchasing an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. grew its position in shares of Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after buying an additional 122,040 shares in the last quarter. Florida Trust Wealth Management Co grew its position in shares of Brookfield by 49.0% during the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after buying an additional 387,068 shares in the last quarter. Citigroup Inc. increased 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 buying an additional 221,078 shares during the period. Finally, Vanguard Group Inc. increased 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 buying an additional 31,543,313 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.5%

Shares of NYSE BN opened at $43.90 on Wednesday. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The business has a fifty day moving average price of $45.38 and a 200 day moving average price of $44.83. The stock has a market capitalization of $107.61 billion, a P/E ratio of 86.08 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.

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. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s dividend payout ratio is presently 54.90%.

Analyst Ratings Changes

Several research firms recently weighed in on BN. National Bank Financial lifted their price objective on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Scotia boosted their price target on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, Scotiabank reiterated an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.82.

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.