Bessemer Group Inc. Acquires 2,476 Shares of Brookfield Corporation (NYSE:BN)

Bessemer Group Inc. lifted its stake in Brookfield Corporation (NYSE:BN) by 0.1% during the first quarter, Holdings Channel.com reports. The fund owned 4,841,743 shares of the company’s stock after buying an additional 2,476 shares during the period. Bessemer Group Inc.’s holdings in Brookfield were worth $253,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC bought a new position in Brookfield in the fourth quarter valued at approximately $29,000. ST Germain D J Co. Inc. bought a new position in shares of Brookfield in the first quarter valued at $28,000. Sunbelt Securities Inc. grew its stake in shares of Brookfield by 164.0% in the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 451 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Brookfield during the fourth quarter worth $48,000. Finally, Versant Capital Management Inc raised its position in Brookfield by 2,029.3% during the first quarter. Versant Capital Management Inc now owns 873 shares of the company’s stock worth $46,000 after acquiring an additional 832 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE:BN opened at $61.29 on Wednesday. The stock has a 50 day simple moving average of $56.56 and a 200 day simple moving average of $56.13. The stock has a market cap of $101.01 billion, a P/E ratio of 218.90 and a beta of 1.66. Brookfield Corporation has a 1-year low of $40.59 and a 1-year high of $62.78. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Research analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.59%. Brookfield’s payout ratio is presently 128.57%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Sunday, June 8th. TD Securities reduced their price target on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a report on Monday, May 5th. Scotiabank lowered their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. cut their price objective on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, CIBC decreased their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.13.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.