Cibc World Market Inc. Acquires 6,546,935 Shares of Brookfield Corporation $BN

Cibc World Market Inc. grew its holdings in Brookfield Corporation (NYSE:BN) by 58.1% during the 4th quarter, HoldingsChannel reports. The firm owned 17,824,212 shares of the company’s stock after purchasing an additional 6,546,935 shares during the quarter. Brookfield comprises approximately 1.3% of Cibc World Market Inc.’s holdings, making the stock its 16th largest position. Cibc World Market Inc.’s holdings in Brookfield were worth $817,953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Savant Capital LLC increased its stake in shares of Brookfield by 6.5% in the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock valued at $253,000 after purchasing an additional 226 shares during the last quarter. State of Wyoming grew its position in Brookfield by 7.8% during the 3rd quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after acquiring an additional 240 shares during the last quarter. Hilltop National Bank grew its position in Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Brookfield by 38.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock worth $60,000 after acquiring an additional 243 shares during the last quarter. Finally, New England Capital Financial Advisors LLC grew its position in Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after acquiring an additional 251 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BN. JPMorgan Chase & Co. boosted their price objective on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Morgan Stanley restated an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. BMO Capital Markets boosted their price objective on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. TD boosted their price objective on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada reduced their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Trading Down 3.8%

NYSE BN opened at $43.88 on Thursday. The business’s 50-day moving average price is $44.19 and its two-hundred day moving average price is $44.87. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The firm has a market capitalization of $107.53 billion, a PE ratio of 86.03 and a beta of 1.53. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given 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 54.90%.

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.