Russell Investments Group Ltd. Sells 60,148 Shares of Brookfield Corporation $BN

Russell Investments Group Ltd. lowered its holdings in shares of Brookfield Corporation (NYSE:BN) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 635,803 shares of the company’s stock after selling 60,148 shares during the quarter. Russell Investments Group Ltd.’s holdings in Brookfield were worth $43,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Brookfield by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 60,559,807 shares of the company’s stock worth $4,155,251,000 after buying an additional 897,916 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after buying an additional 799,440 shares during the period. Akre Capital Management LLC boosted its holdings in shares of Brookfield by 0.7% in the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock valued at $1,188,713,000 after buying an additional 125,269 shares during the period. Norges Bank bought a new stake in shares of Brookfield during the second quarter worth $1,040,160,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Brookfield by 1.6% during the second quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock worth $1,010,616,000 after acquiring an additional 249,913 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BN. BMO Capital Markets upped their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Scotiabank restated an “outperform” rating and issued a $52.00 price target (up from $49.00) on shares of Brookfield in a report on Friday, February 13th. TD Securities upped their price objective on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Royal Bank Of Canada lifted their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average price target of $54.59.

Brookfield Stock Down 2.8%

Shares of BN stock opened at $40.54 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The firm’s fifty day moving average price is $45.91 and its two-hundred day moving average price is $45.66. The firm has a market capitalization of $99.32 billion, a P/E ratio of 82.18 and a beta of 1.58.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. On average, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, March 17th. This is a boost from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield’s dividend payout ratio is currently 57.14%.

Brookfield 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.