Madison Asset Management LLC Cuts Stake in Brookfield Corporation $BN

Madison Asset Management LLC trimmed its stake in Brookfield Corporation (NYSE:BN) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,369,676 shares of the company’s stock after selling 128,895 shares during the quarter. Madison Asset Management LLC’s holdings in Brookfield were worth $55,431,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Partners Value Investments L.P. raised its stake in Brookfield by 50.0% during the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock worth $8,324,719,000 after purchasing an additional 60,468,651 shares during the period. Royal Bank of Canada grew its stake in shares of Brookfield by 40.5% during the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after buying an additional 32,760,558 shares during the period. Capital World Investors grew its stake in shares of Brookfield by 45.0% during the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after buying an additional 30,755,354 shares during the period. Vanguard Group Inc. increased its holdings in shares of Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after buying an additional 31,543,313 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after buying an additional 14,200,710 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BN has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Finally, TD increased 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Down 3.1%

Shares of NYSE BN opened at $42.30 on Tuesday. The stock has a fifty day moving average price of $44.46 and a 200 day moving average price of $44.45. 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 Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The company has a market cap of $103.67 billion, a P/E ratio of 82.93 and a beta of 1.54.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.07 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield’s dividend payout ratio (DPR) 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.