Varma Mutual Pension Insurance Co Grows Position in Brookfield Corporation $BN

Varma Mutual Pension Insurance Co increased its position in shares of Brookfield Corporation (NYSE:BN) by 55.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 451,819 shares of the company’s stock after buying an additional 160,406 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Brookfield were worth $20,772,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new position in Brookfield during the 4th quarter worth approximately $27,000. Hilltop National Bank grew its stake in Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after buying an additional 241 shares during the last quarter. New England Capital Financial Advisors LLC grew its stake in Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after buying an additional 251 shares during the last quarter. ST Germain D J Co. Inc. grew its stake in Brookfield by 49.9% during the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock worth $37,000 after buying an additional 270 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Brookfield during the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BN. National Bank Financial raised their price target on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. BMO Capital Markets increased their price objective on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.65.

Brookfield Stock Performance

Shares of BN stock opened at $45.25 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. The stock has a fifty day moving average price of $42.45 and a 200 day moving average price of $44.87. The stock has a market cap of $110.88 billion, a PE ratio of 91.71 and a beta of 1.55. Brookfield Corporation has a 1 year low of $35.95 and a 1 year high of $49.56.

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

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.07 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, March 17th. Brookfield’s payout ratio is currently 57.14%.

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.