Northwestern Mutual Wealth Management Co. Buys 8,220 Shares of Brookfield Corporation $BN

Northwestern Mutual Wealth Management Co. increased its position in Brookfield Corporation (NYSE:BN) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,655 shares of the company’s stock after acquiring an additional 8,220 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield were worth $12,349,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Brookfield by 1.6% in the first quarter. Vanguard Group Inc. now owns 60,892,877 shares of the company’s stock worth $3,186,707,000 after purchasing an additional 988,419 shares during the period. Pershing Square Capital Management L.P. lifted its stake in shares of Brookfield by 17.5% during the 1st quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock valued at $2,149,054,000 after buying an additional 6,111,593 shares in the last quarter. Akre Capital Management LLC boosted its holdings in Brookfield by 0.7% in the 1st quarter. Akre Capital Management LLC now owns 19,094,021 shares of the company’s stock worth $1,000,718,000 after buying an additional 124,842 shares during the period. Geode Capital Management LLC boosted its holdings in Brookfield by 19.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock worth $679,852,000 after buying an additional 1,770,378 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Brookfield by 83.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock worth $403,514,000 after buying an additional 3,500,003 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 1.4%

Shares of BN opened at $46.36 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. The stock has a market capitalization of $114.73 billion, a price-to-earnings ratio of 161.71 and a beta of 1.73. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.47. The business’s 50 day simple moving average is $45.45 and its 200-day simple moving average is $43.47.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, equities analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s payout ratio is 66.67%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. CIBC reaffirmed an “outperform” rating and issued a $52.00 price objective (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. The Goldman Sachs Group started coverage on Brookfield in a report on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 price target on the stock. TD Securities increased their price objective on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Wall Street Zen downgraded shares of Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Brookfield presently has a consensus rating of “Buy” and a consensus price target of $53.47.

Brookfield Company Profile

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.