Gulf International Bank UK Ltd Raises Stock Position in Brookfield Corporation $BN

Gulf International Bank UK Ltd grew its holdings in Brookfield Corporation (NYSE:BN) by 50.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 101,430 shares of the company’s stock after purchasing an additional 33,810 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Brookfield were worth $4,658,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. AQR Capital Management LLC grew its holdings in Brookfield by 147.5% during the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after purchasing an additional 11,069 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after purchasing an additional 295 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in Brookfield by 32.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after purchasing an additional 1,396 shares in the last quarter. AXA S.A. grew its holdings in Brookfield by 42.2% during the 2nd quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after purchasing an additional 30,703 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in Brookfield by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after purchasing an additional 5,821 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN stock opened at $45.60 on Friday. The firm has a market cap of $111.74 billion, a P/E ratio of 89.40 and a beta of 1.55. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. Brookfield Corporation has a 1-year low of $37.83 and a 1-year high of $49.56. The firm has a fifty day moving average of $43.83 and a two-hundred day moving average of $44.90.

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 $0.07 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s payout ratio is 54.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. TD Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Scotiabank reaffirmed an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Scotia raised their price target on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Finally, Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Brookfield presently has a consensus 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.