25,695 Shares in Brookfield Corporation $BN Acquired by Marex Group plc

Marex Group plc purchased a new stake in shares of Brookfield Corporation (NYSE:BN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 25,695 shares of the company’s stock, valued at approximately $1,589,000.

Other hedge funds have also modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Brookfield in the second quarter worth $30,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Brookfield in the 2nd quarter worth $32,000. Ameritas Advisory Services LLC bought a new stake in Brookfield during the second quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 330 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in shares of Brookfield in the second quarter worth about $51,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BN shares. Wall Street Zen cut Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. The Goldman Sachs Group assumed coverage on shares of Brookfield in a research report on Tuesday, September 2nd. They set a “buy” rating and a $52.00 target price for the company. TD Securities lifted their price target on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Finally, Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.47.

Brookfield Trading Down 2.0%

Shares of BN opened at $45.64 on Friday. The stock has a market capitalization of $112.99 billion, a PE ratio of 126.76 and a beta of 1.57. The company’s fifty day moving average is $45.56 and its 200 day moving average is $43.93. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.47.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Sell-side analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s payout ratio is presently 66.67%.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.