Korea Investment CORP Sells 13,063 Shares of Brookfield Corporation $BN

Korea Investment CORP trimmed its stake in Brookfield Corporation (NYSE:BN) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 948,504 shares of the company’s stock after selling 13,063 shares during the quarter. Korea Investment CORP’s holdings in Brookfield were worth $65,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BN. SG Americas Securities LLC grew its stake in shares of Brookfield by 4.1% in the 2nd quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock valued at $268,000 after buying an additional 172 shares during the period. SBI Securities Co. Ltd. raised its stake in Brookfield by 7.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock worth $183,000 after buying an additional 197 shares during the period. Savant Capital LLC raised its stake in Brookfield by 6.5% during the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after buying an additional 226 shares during the period. Advisors Capital Management LLC boosted its holdings in Brookfield by 3.2% in the second quarter. Advisors Capital Management LLC now owns 7,440 shares of the company’s stock worth $460,000 after acquiring an additional 230 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Brookfield by 7.8% in the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after acquiring an additional 240 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BN. National Bank Financial boosted their price objective on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Morgan Stanley restated an “overweight” rating and set a $60.00 price target on shares of Brookfield in a research note on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $52.00 price objective (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.59.

Brookfield Stock Performance

Shares of Brookfield stock opened at $41.18 on Monday. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The business has a 50 day moving average price of $46.22 and a 200-day moving average price of $45.72. The company has a market cap of $100.88 billion, a PE ratio of 83.47 and a beta of 1.58.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Equities analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is presently 57.14%.

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.