Shelter Mutual Insurance Co Purchases Shares of 84,196 Brookfield Corporation $BN

Shelter Mutual Insurance Co acquired a new position in shares of Brookfield Corporation (NYSE:BN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 84,196 shares of the company’s stock, valued at approximately $3,586,000.

Other institutional investors also recently made changes to their positions in the company. Madison Asset Management LLC bought a new position in shares of Brookfield during the second quarter worth approximately $55,655,000. Trust Co. of Vermont bought a new stake in Brookfield in the 2nd quarter valued at $1,805,000. Hikari Power Ltd acquired a new position in Brookfield in the 2nd quarter valued at $262,000. Plato Investment Management Ltd bought a new position in Brookfield during the 2nd quarter worth $212,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Brookfield during the second quarter worth $1,027,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.9%

Shares of NYSE BN opened at $41.73 on Friday. The company’s 50 day moving average price is $43.34 and its 200-day moving average price is $43.79. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a market capitalization of $102.31 billion, a P/E ratio of 75.87 and a beta of 1.54.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. Equities analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be given a $0.07 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is 50.91%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank restated an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. TD Securities reiterated a “buy” rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada decreased their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $56.91.

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.