2,489,343 Shares in Brookfield Corporation $BN Bought by CIBC Bancorp USA Inc.

CIBC Bancorp USA Inc. bought a new stake in Brookfield Corporation (NYSE:BN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,489,343 shares of the company’s stock, valued at approximately $171,104,000. Brookfield comprises 0.6% of CIBC Bancorp USA Inc.’s portfolio, making the stock its 29th largest position.

Several other institutional investors have also recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC bought a new position in shares of Brookfield in the second quarter worth about $32,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 330 shares in the last quarter. First Horizon Corp bought a new stake in shares of Brookfield during the 3rd quarter valued at approximately $40,000. Versant Capital Management Inc grew its holdings in shares of Brookfield by 507.5% during the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $45,000 after purchasing an additional 543 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Brookfield during the 2nd quarter worth approximately $63,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BN shares. National Bank Financial increased their price objective on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 price target on shares of Brookfield in a research note on Tuesday, February 17th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.59.

Brookfield Stock Up 1.4%

Shares of NYSE BN opened at $39.70 on Wednesday. The company has a 50 day simple moving average of $45.22 and a 200 day simple moving average of $45.54. The firm has a market cap of $97.25 billion, a PE ratio of 80.47 and a beta of 1.58. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. On average, research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.07 dividend. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. Brookfield’s payout ratio is presently 48.98%.

About Brookfield

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.