Royal Bank of Canada Purchases 32,760,558 Shares of Brookfield Corporation $BN

Royal Bank of Canada boosted its stake in Brookfield Corporation (NYSE:BN) by 40.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,652,306 shares of the company’s stock after purchasing an additional 32,760,558 shares during the quarter. Brookfield comprises about 0.8% of Royal Bank of Canada’s holdings, making the stock its 16th biggest position. Royal Bank of Canada owned 4.59% of Brookfield worth $5,215,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Partners Value Investments L.P. grew its holdings in Brookfield by 50.0% in the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock worth $8,324,719,000 after purchasing an additional 60,468,651 shares during the period. Capital World Investors grew its holdings in Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after purchasing an additional 30,755,354 shares during the period. Vanguard Group Inc. grew its holdings in Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares during the period. Principal Financial Group Inc. grew its holdings in Brookfield by 27.9% in the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after purchasing an additional 14,200,710 shares during the period. Finally, BROOKFIELD Corp ON grew its holdings in Brookfield by 50.2% in the fourth quarter. BROOKFIELD Corp ON now owns 46,581,943 shares of the company’s stock worth $2,137,645,000 after purchasing an additional 15,574,559 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BN shares. TD raised their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. TD Securities restated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Scotia raised their price target on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

Brookfield Stock Down 0.0%

Shares of NYSE BN opened at $45.66 on Wednesday. The stock has a market capitalization of $111.92 billion, a P/E ratio of 89.53 and a beta of 1.53. The company has a 50-day moving average price of $45.11 and a 200-day moving average price of $44.91. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

Brookfield 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.