Rubicon Advisors GP Buys New Stake in Brookfield Corporation $BN

Rubicon Advisors GP bought a new stake in shares of Brookfield Corporation (NYSE:BN) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 15,060 shares of the company’s stock, valued at approximately $691,000. Brookfield comprises about 0.6% of Rubicon Advisors GP’s holdings, making the stock its 29th biggest position.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after acquiring an additional 11,069 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Brookfield by 13.5% during the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after acquiring an additional 295 shares during the last quarter. Sivia Capital Partners LLC increased its position in Brookfield by 32.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock worth $353,000 after purchasing an additional 1,396 shares in the last quarter. AXA S.A. increased its position in Brookfield by 42.2% during the 2nd quarter. AXA S.A. now owns 103,531 shares of the company’s stock worth $6,403,000 after purchasing an additional 30,703 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Brookfield by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after purchasing an additional 5,821 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.1%

Shares of NYSE:BN opened at $44.50 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The firm has a market cap of $109.08 billion, a price-to-earnings ratio of 87.25 and a beta of 1.53. The stock’s 50-day moving average price is $45.31 and its two-hundred day moving average price is $44.88. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.07 dividend. 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%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley restated 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. Scotiabank reissued an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Scotia boosted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Royal Bank Of Canada reduced 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. Finally, TD raised their target price on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. 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 stock. According to data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Company 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.