Rockefeller Capital Management L.P. Grows Stake in Brookfield Corporation $BN

Rockefeller Capital Management L.P. raised its holdings in shares of Brookfield Corporation (NYSE:BN) by 56.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 370,308 shares of the company’s stock after buying an additional 133,289 shares during the period. Rockefeller Capital Management L.P.’s holdings in Brookfield were worth $16,993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chemistry Wealth Management LLC raised its stake in Brookfield by 51.6% in the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after buying an additional 148,893 shares during the last quarter. PCJ Investment Counsel Ltd. grew its stake in shares of Brookfield by 110.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after acquiring an additional 122,040 shares during the last quarter. Florida Trust Wealth Management Co grew its stake in shares of Brookfield by 49.0% during the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after acquiring an additional 387,068 shares during the last quarter. Citigroup Inc. grew its stake in shares of Brookfield by 49.5% during the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after acquiring an additional 221,078 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings 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 acquiring an additional 31,543,313 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.5%

Shares of NYSE:BN opened at $43.90 on Wednesday. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The stock has a market cap of $107.61 billion, a price-to-earnings ratio of 86.08 and a beta of 1.53. 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 business has a 50-day moving average price of $45.38 and a 200-day moving average price of $44.83.

Brookfield Dividend Announcement

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

Wall Street Analysts Forecast Growth

BN has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. TD upped their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. National Bank Financial raised their price target on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, TD Securities reiterated a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research note on Tuesday, May 19th. One 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 company’s stock. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Company 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.