State of New Jersey Common Pension Fund D Buys 52,917 Shares of Brookfield Corporation $BN

State of New Jersey Common Pension Fund D increased its stake in Brookfield Corporation (NYSE:BN) by 50.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 158,751 shares of the company’s stock after acquiring an additional 52,917 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Brookfield were worth $7,285,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares in the last quarter. Capital World Investors lifted its holdings in shares of Brookfield by 2.4% during the third quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock valued at $4,685,103,000 after purchasing an additional 1,624,085 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brookfield by 1.6% during the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after purchasing an additional 799,440 shares during the last quarter. Akre Capital Management LLC lifted its holdings in shares of Brookfield by 0.7% during the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock valued at $1,188,713,000 after purchasing an additional 125,269 shares during the last quarter. Finally, Cibc World Market Inc. lifted its holdings in shares of Brookfield by 2.9% during the third quarter. Cibc World Market Inc. now owns 11,277,277 shares of the company’s stock valued at $773,396,000 after purchasing an additional 321,998 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of BN opened at $45.25 on Friday. The company has a market capitalization of $110.88 billion, a P/E ratio of 91.71 and a beta of 1.55. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The firm has a 50 day moving average of $42.45 and a 200 day moving average of $44.87. Brookfield Corporation has a twelve month low of $35.95 and a twelve month high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. As a group, equities research analysts anticipate that Brookfield Corporation will post 2.95 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were given a $0.07 dividend. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s payout ratio is presently 57.14%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a report on Wednesday, March 25th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Royal Bank Of Canada lifted their target price on shares of Brookfield from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 20th. National Bank Financial lifted their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $55.65.

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.