Private Management Group Inc. Acquires 234,063 Shares of Brookfield Corporation $BN

Private Management Group Inc. raised its holdings in shares of Brookfield Corporation (NYSE:BN) by 45.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 747,996 shares of the company’s stock after acquiring an additional 234,063 shares during the quarter. Private Management Group Inc.’s holdings in Brookfield were worth $34,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chemistry Wealth Management LLC grew its stake in shares of Brookfield by 51.6% in the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after buying an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. grew its stake in shares of Brookfield by 110.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after buying an additional 122,040 shares in the last quarter. Florida Trust Wealth Management Co grew its stake in shares of Brookfield by 49.0% in the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after buying an additional 387,068 shares in the last quarter. Citigroup Inc. lifted its holdings in Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after purchasing an additional 221,078 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Up 0.9%

BN opened at $44.99 on Friday. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56. 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 $110.27 billion, a P/E ratio of 88.22 and a beta of 1.53. The stock has a fifty day moving average of $44.83 and a 200-day moving average of $44.92.

Brookfield Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. National Bank Financial raised their price target on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. TD Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Finally, Scotiabank reaffirmed an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target 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.