Brookfield Corporation $BN Stock Position Raised by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Brookfield Corporation (NYSE:BN) by 38.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,889 shares of the company’s stock after acquiring an additional 65,070 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield were worth $10,734,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BN. AQR Capital Management LLC lifted its holdings in shares of Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after purchasing an additional 11,069 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Brookfield by 13.5% in the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after purchasing an additional 295 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Brookfield by 32.3% in the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after purchasing an additional 1,396 shares in the last quarter. AXA S.A. lifted its holdings in shares of Brookfield by 42.2% in the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after purchasing an additional 30,703 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Brookfield by 29.6% in the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after purchasing an additional 5,821 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of NYSE:BN opened at $45.37 on Tuesday. 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 1 year low of $37.54 and a 1 year high of $49.56. The business has a fifty day simple moving average of $43.29 and a 200 day simple moving average of $44.88. The firm has a market cap of $111.19 billion, a price-to-earnings ratio of 88.96 and a beta of 1.55.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 is Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is 54.90%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BN shares. TD Securities restated a “buy” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. BMO Capital Markets increased their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Scotia increased their target price on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. increased their price objective on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

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.