Brookfield Corporation $BN Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 24.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,875 shares of the company’s stock after purchasing an additional 1,543 shares during the period. Prospera Financial Services Inc’s holdings in Brookfield were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in BN. Hilltop National Bank acquired a new position in Brookfield in the second quarter worth approximately $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Brookfield during the 2nd quarter worth $33,000. Brooklyn Investment Group acquired a new position in shares of Brookfield in the 1st quarter worth $54,000. SouthState Corp raised its position in shares of Brookfield by 734.8% during the first quarter. SouthState Corp now owns 1,127 shares of the company’s stock worth $59,000 after purchasing an additional 992 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Brookfield during the second quarter worth $62,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

BN stock opened at $43.89 on Friday. The firm has a 50 day simple moving average of $45.67 and a 200 day simple moving average of $42.82. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.47. The stock has a market cap of $108.63 billion, a P/E ratio of 153.12 and a beta of 1.73. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, December 16th. Brookfield’s payout ratio is currently 82.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BN. Cowen reiterated a “buy” rating on shares of Brookfield in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. The Goldman Sachs Group began coverage on shares of Brookfield in a report on Tuesday, September 2nd. They set a “buy” rating and a $52.00 price target on the stock. BMO Capital Markets upped their price target on shares of Brookfield from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, CIBC reiterated an “outperform” rating and set a $52.00 price objective (up from $50.67) on shares of Brookfield in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $53.47.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.