Brookfield Corporation $BN Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Brookfield Corporation (NYSE:BN) by 30.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,304,740 shares of the company’s stock after purchasing an additional 4,069,204 shares during the quarter. Brookfield makes up approximately 1.9% of CIBC Asset Management Inc’s holdings, making the stock its 11th biggest holding. CIBC Asset Management Inc owned about 0.70% of Brookfield worth $796,295,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Chemistry Wealth Management LLC lifted its stake in Brookfield by 51.6% during the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after purchasing an additional 148,893 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its stake in 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 purchasing an additional 122,040 shares during the last quarter. Florida Trust Wealth Management Co lifted its stake in 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 purchasing an additional 387,068 shares during the last quarter. Citigroup Inc. raised its stake in 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 period. Finally, Vanguard Group Inc. raised its stake in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN opened at $45.59 on Wednesday. The firm has a market capitalization of $111.72 billion, a price-to-earnings ratio of 89.39 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56. The stock’s fifty day moving average is $43.95 and its 200-day moving average is $44.88.

Brookfield Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BN. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Morgan Stanley reiterated an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. BMO Capital Markets increased their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Scotia increased their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.