AGF Management Ltd. Acquires 164,124 Shares of Brookfield Corporation $BN

AGF Management Ltd. boosted its stake in shares of Brookfield Corporation (NYSE:BN) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,438,241 shares of the company’s stock after buying an additional 164,124 shares during the quarter. AGF Management Ltd. owned approximately 0.15% of Brookfield worth $151,399,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. U.S. Capital Wealth Advisors LLC bought a new stake in Brookfield during the first quarter valued at about $339,000. Brown Advisory Inc. lifted its stake in shares of Brookfield by 7.7% during the first quarter. Brown Advisory Inc. now owns 183,558 shares of the company’s stock worth $9,620,000 after buying an additional 13,103 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Brookfield in the 1st quarter valued at $75,000. Cerity Partners LLC boosted its position in Brookfield by 17.5% in the first quarter. Cerity Partners LLC now owns 106,147 shares of the company’s stock valued at $5,563,000 after buying an additional 15,823 shares during the last quarter. Finally, Genus Capital Management Inc. boosted its holdings in Brookfield by 162.1% in the first quarter. Genus Capital Management Inc. now owns 23,754 shares of the company’s stock valued at $1,243,000 after purchasing an additional 62,008 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Up 0.1%

Shares of BN opened at $45.72 on Friday. The firm has a market cap of $113.15 billion, a P/E ratio of 159.48 and a beta of 1.73. The firm’s 50-day simple moving average is $45.54 and its 200 day simple moving average is $42.45. 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 Corporation has a 52 week low of $29.07 and a 52 week high of $49.47.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. On average, analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on BN shares. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield in a research report on Wednesday, October 8th. BMO Capital Markets lifted their target price 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. Royal Bank Of Canada increased their price objective on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Scotiabank boosted their target price on Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a report on Friday, October 3rd. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Brookfield currently has an average rating of “Buy” and a consensus price target of $52.63.

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.