SG Americas Securities LLC Raises Position in Brookfield Corporation $BN

SG Americas Securities LLC lifted its holdings in shares of Brookfield Corporation (NYSE:BN) by 2,112.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 83,511 shares of the company’s stock after acquiring an additional 79,737 shares during the period. SG Americas Securities LLC’s holdings in Brookfield were worth $3,380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BN. MCF Advisors LLC purchased a new position in Brookfield during the fourth quarter worth about $26,000. Quattro Advisors LLC acquired a new stake in Brookfield in the 4th quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new stake in Brookfield in the 4th quarter valued at about $27,000. Truvestments Capital LLC grew its holdings in Brookfield by 49.9% in the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after buying an additional 213 shares during the period. Finally, Hilltop National Bank increased its stake in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Securities reiterated a “buy” rating and set a $60.00 price objective on shares of Brookfield in a report on Tuesday, May 19th. Morgan Stanley restated an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Scotiabank reaffirmed an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. Finally, Scotia lifted their price target on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. 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 company has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Performance

NYSE:BN opened at $42.63 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $104.50 billion, a price-to-earnings ratio of 83.60 and a beta of 1.53. The firm’s fifty day simple moving average is $45.09 and its 200 day simple moving average is $44.69. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.07 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio is presently 54.90%.

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.