Sowell Financial Services LLC Acquires 23,553 Shares of Brookfield Corporation $BN

Sowell Financial Services LLC increased its holdings in shares of Brookfield Corporation (NYSE:BN) by 70.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,919 shares of the company’s stock after buying an additional 23,553 shares during the period. Sowell Financial Services LLC’s holdings in Brookfield were worth $2,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital World Investors raised its stake in shares of Brookfield by 2.4% during the third quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock worth $4,685,103,000 after buying an additional 1,624,085 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Brookfield by 1.5% during the third 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 last quarter. Principal Financial Group Inc. raised its stake in shares of Brookfield by 1.6% during the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock worth $3,487,338,000 after buying an additional 799,440 shares during the last quarter. Akre Capital Management LLC raised its stake in shares of Brookfield by 0.7% during the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock worth $1,188,713,000 after buying an additional 125,269 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of Brookfield by 13.3% during the second quarter. Bank of Nova Scotia now owns 13,263,185 shares of the company’s stock worth $820,569,000 after buying an additional 1,556,042 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Down 0.3%

Shares of NYSE:BN opened at $40.75 on Tuesday. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. The company has a market capitalization of $99.86 billion, a PE ratio of 82.60 and a beta of 1.56. The company has a 50 day moving average price of $43.17 and a two-hundred day moving average price of $45.01.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.07 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 17th. Brookfield’s payout ratio is currently 57.14%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BN. BMO Capital Markets boosted their price target 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 reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Scotiabank lowered their target price on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research note on Wednesday, March 25th. One 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. According to MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $54.20.

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.