Corient Private Wealth LLC Purchases 1,399,216 Shares of Brookfield Corporation $BN

Corient Private Wealth LLC lifted its position in shares of Brookfield Corporation (NYSE:BN) by 40.1% during the 4th quarter, Holdings Channel reports. The firm owned 4,891,403 shares of the company’s stock after purchasing an additional 1,399,216 shares during the quarter. Corient Private Wealth LLC’s holdings in Brookfield were worth $224,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Partners Value Investments L.P. lifted its stake in Brookfield by 50.0% in the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after purchasing an additional 60,468,651 shares during the last quarter. Dodge & Cox bought a new stake in Brookfield in the fourth quarter valued at approximately $1,894,354,000. Royal Bank of Canada raised its stake in Brookfield by 40.5% in the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after buying an additional 32,760,558 shares during the period. Vanguard Group Inc. lifted its position in shares of Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after buying an additional 31,543,313 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after buying an additional 30,755,354 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Up 0.1%

BN stock opened at $44.50 on Friday. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The business has a 50-day simple moving average of $45.31 and a 200 day simple moving average of $44.88. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The company has a market cap of $109.08 billion, a PE ratio of 87.25 and a beta of 1.53.

Brookfield Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on BN shares. Royal Bank Of Canada reduced their target price on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Scotiabank reaffirmed an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Scotia lifted their price objective 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. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Finally, TD increased their price objective on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $56.82.

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.