Wellspring Financial Advisors LLC Invests $830,000 in Brookfield Corporation $BN

Wellspring Financial Advisors LLC acquired a new position in shares of Brookfield Corporation (NYSE:BN) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,094 shares of the company’s stock, valued at approximately $830,000.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after acquiring an additional 11,069 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Brookfield by 13.5% during the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after purchasing an additional 295 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Brookfield by 32.3% during the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock worth $353,000 after purchasing an additional 1,396 shares in the last quarter. AXA S.A. boosted its position in shares of Brookfield by 42.2% during the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock worth $6,403,000 after purchasing an additional 30,703 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in shares of Brookfield by 29.6% during the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock worth $1,577,000 after purchasing an additional 5,821 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Scotia lifted their price target on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Scotiabank reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. TD Securities reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, National Bank Financial lifted their price target on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Down 1.8%

Shares of NYSE BN opened at $44.67 on Thursday. The firm has a market cap of $109.47 billion, a PE ratio of 87.59 and a beta of 1.53. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The company’s fifty day simple moving average is $44.74 and its 200 day simple moving average is $44.92. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s dividend payout ratio is currently 54.90%.

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.