Bessemer Group Inc. Has $229.12 Million Stock Position in Brookfield Corporation $BN

Bessemer Group Inc. reduced its position in shares of Brookfield Corporation (NYSE:BN) by 20.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,661,500 shares of the company’s stock after selling 1,459,259 shares during the period. Bessemer Group Inc. owned 0.23% of Brookfield worth $229,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MCF Advisors LLC acquired a new position in Brookfield during the 4th quarter worth $26,000. Quattro Advisors LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at about $26,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield in the fourth quarter worth about $27,000. Truvestments Capital LLC lifted its position in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Finally, Hilltop National Bank boosted its stake in Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of BN stock opened at $44.28 on Friday. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a market capitalization of $108.53 billion, a P/E ratio of 86.82 and a beta of 1.54. The stock has a 50 day moving average of $44.61 and a two-hundred day moving average of $44.50. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid 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 was Monday, June 15th. Brookfield’s dividend payout ratio is presently 54.90%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BN shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada lowered their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Finally, TD Securities reiterated a “buy” rating and set a $60.00 target price on shares of Brookfield in a research note on Tuesday, May 19th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.