Bank of New York Mellon Corp Has $76.16 Million Stock Holdings in Brookfield Corporation $BN

Bank of New York Mellon Corp cut its holdings in Brookfield Corporation (NYSE:BN) by 3.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,881,916 shares of the company’s stock after selling 70,729 shares during the period. Bank of New York Mellon Corp’s holdings in Brookfield were worth $76,161,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of BN. Partners Value Investments L.P. boosted its stake in shares of Brookfield by 50.0% in the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after buying an additional 60,468,651 shares during the period. Royal Bank of Canada grew its position in Brookfield by 40.5% during the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after buying an additional 32,760,558 shares in the last quarter. Capital World Investors increased its stake in Brookfield by 45.0% during the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after acquiring an additional 30,755,354 shares during the period. Vanguard Group Inc. increased its stake 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 acquiring an additional 31,543,313 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Brookfield by 27.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Scotiabank restated an “outperform” rating and issued a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Scotia boosted their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. TD Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.64.

Brookfield Trading Down 0.5%

NYSE BN opened at $42.19 on Wednesday. The business has a 50 day simple moving average of $44.39 and a 200 day simple moving average of $44.43. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56. The stock has a market capitalization of $103.40 billion, a P/E ratio of 82.72 and a beta of 1.54. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 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.