Legal & General Group Plc Has $528.42 Million Stock Holdings in Brookfield Corporation $BN

Legal & General Group Plc increased its position in Brookfield Corporation (NYSE:BN) by 56.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,494,884 shares of the company’s stock after buying an additional 4,135,258 shares during the period. Legal & General Group Plc owned 0.46% of Brookfield worth $528,423,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after buying an additional 31,543,313 shares during the period. Capital World Investors grew its stake in shares of Brookfield by 2.4% in the 3rd quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock valued at $4,685,103,000 after buying an additional 1,624,085 shares during the period. Principal Financial Group Inc. grew its stake in shares of Brookfield by 27.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock valued at $2,985,224,000 after buying an additional 14,200,710 shares during the period. Akre Capital Management LLC grew its stake in shares of Brookfield by 0.7% in the 2nd 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. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Brookfield by 8,784.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,747,973 shares of the company’s stock valued at $860,344,000 after purchasing an additional 18,536,964 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

BN stock opened at $45.37 on Tuesday. Brookfield Corporation has a 52-week low of $37.54 and a 52-week high of $49.56. The business has a 50-day simple moving average of $43.29 and a two-hundred day simple moving average of $44.88. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The company has a market capitalization of $111.19 billion, a P/E ratio of 88.96 and a beta of 1.55.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets lifted their price target on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. TD lifted their price target on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Royal Bank Of Canada cut their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $56.82.

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.