PNC Financial Services Group Inc. Has $10.62 Million Stake in Brookfield Corporation $BN

PNC Financial Services Group Inc. boosted its holdings in shares of Brookfield Corporation (NYSE:BN) by 43.6% in the fourth quarter, HoldingsChannel reports. The firm owned 231,407 shares of the company’s stock after acquiring an additional 70,229 shares during the period. PNC Financial Services Group Inc.’s holdings in Brookfield were worth $10,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Brookfield by 52.1% during the 4th 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 increased its holdings in Brookfield by 2.4% during the 3rd 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 in the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock valued at $2,985,224,000 after purchasing an additional 14,200,710 shares in the last quarter. Akre Capital Management LLC increased its stake in shares of Brookfield by 0.7% in the 2nd quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock valued at $1,188,713,000 after buying an additional 125,269 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Brookfield by 8,784.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,747,973 shares of the company’s stock valued at $860,344,000 after buying an additional 18,536,964 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Down 0.2%

Shares of Brookfield stock opened at $45.37 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12 month low of $37.54 and a 12 month high of $49.56. The business has a fifty day simple moving average of $43.15 and a 200 day simple moving average of $44.89. The stock has a market cap of $111.19 billion, a PE ratio of 88.96 and a beta of 1.55.

Brookfield Dividend Announcement

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

Wall Street Analyst Weigh In

BN has been the subject of several research reports. BMO Capital Markets lifted their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. lifted their target price on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Scotiabank reissued an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Finally, TD Securities reissued a “buy” rating and issued a $60.00 target price on shares of Brookfield in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Brookfield has a consensus 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.