Wellspring Financial Advisors LLC Acquires Shares of 18,094 Brookfield Corporation $BN

Wellspring Financial Advisors LLC acquired a new stake in Brookfield Corporation (NYSE:BN) during the fourth quarter, Holdings Channel.com reports. The fund acquired 18,094 shares of the company’s stock, valued at approximately $830,000.

A number of other large investors have also recently made changes to their positions in the business. Capital World Investors lifted its stake in shares of Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after buying an additional 30,755,354 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield by 27.9% in the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock valued at $2,985,224,000 after purchasing an additional 14,200,710 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Brookfield by 46.3% in the fourth quarter. TD Asset Management Inc now owns 35,763,047 shares of the company’s stock valued at $1,644,200,000 after purchasing an additional 11,323,960 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Brookfield in the fourth quarter valued at about $1,227,555,000. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Down 1.8%

Shares of Brookfield stock opened at $44.67 on Thursday. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The firm has a market cap of $109.47 billion, a PE ratio of 87.59 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. The company has a 50 day simple moving average of $44.74 and a two-hundred day simple moving average of $44.92.

Brookfield Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Securities reiterated a “buy” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. Scotia increased their target price 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. BMO Capital Markets increased their target price on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 13th. TD increased their target price on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada lowered their target price on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.82.

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.