St. Louis Trust Co Acquires Shares of 76,866 Brookfield Corporation $BN

St. Louis Trust Co acquired a new stake in shares of Brookfield Corporation (NYSE:BN) during the fourth quarter, HoldingsChannel reports. The fund acquired 76,866 shares of the company’s stock, valued at approximately $3,527,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jefferies Financial Group Inc. purchased a new position in Brookfield during the 4th quarter valued at $51,351,000. White Lighthouse Investment Management Inc. purchased a new stake in shares of Brookfield in the 4th quarter worth about $206,000. EverSource Wealth Advisors LLC grew its position in shares of Brookfield by 72.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,979 shares of the company’s stock worth $229,000 after buying an additional 2,097 shares during the period. Americana Partners LLC purchased a new stake in shares of Brookfield in the 4th quarter worth about $330,000. Finally, Mizuho Markets Americas LLC grew its position in shares of Brookfield by 50.0% in the 4th quarter. Mizuho Markets Americas LLC now owns 450,000 shares of the company’s stock worth $20,650,000 after buying an additional 150,000 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD upped their target price on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Scotia upped their target price on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. TD Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Brookfield in a research report on Tuesday. Scotiabank reaffirmed an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. One equities 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Performance

Shares of BN stock opened at $45.37 on Friday. Brookfield Corporation has a one year low of $37.54 and a one year high of $49.56. The company’s 50-day moving average is $43.15 and its 200 day moving average is $44.89. The company has a market capitalization of $111.19 billion, a price-to-earnings ratio of 88.96 and a beta of 1.55. 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 Dividend Announcement

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