AIA Group Ltd Sells 21,875 Shares of Brookfield Corporation $BN

AIA Group Ltd decreased its holdings in shares of Brookfield Corporation (NYSE:BN) by 30.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,425 shares of the company’s stock after selling 21,875 shares during the quarter. AIA Group Ltd’s holdings in Brookfield were worth $2,041,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MCF Advisors LLC bought a new stake in shares of Brookfield in the 4th quarter worth about $26,000. Quattro Advisors LLC bought a new position in shares of Brookfield in the 4th quarter valued at about $26,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield in the 4th quarter valued at about $27,000. Truvestments Capital LLC grew its position in Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. Finally, Hilltop National Bank increased its stake in Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Securities restated a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Scotiabank reissued an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. National Bank Financial increased their price target 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. lifted their price objective on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Price Performance

Brookfield stock opened at $43.63 on Monday. The stock has a market cap of $106.96 billion, a price-to-earnings ratio of 85.56 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 Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The firm has a 50-day moving average of $44.54 and a two-hundred day moving average of $44.48.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid 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 was Monday, June 15th. Brookfield’s payout ratio is currently 54.90%.

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.