Allworth Financial LP Has $345,000 Holdings in Brookfield Corporation $BN

Allworth Financial LP boosted its stake in Brookfield Corporation (NYSE:BN) by 180.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,584 shares of the company’s stock after purchasing an additional 3,596 shares during the period. Allworth Financial LP’s holdings in Brookfield were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BN. King Luther Capital Management Corp boosted its stake in shares of Brookfield by 2.4% in the 2nd quarter. King Luther Capital Management Corp now owns 107,162 shares of the company’s stock valued at $6,628,000 after purchasing an additional 2,501 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Brookfield by 62.3% in the second quarter. Acadian Asset Management LLC now owns 45,983 shares of the company’s stock valued at $2,841,000 after buying an additional 17,655 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Brookfield by 2.7% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,592,795 shares of the company’s stock worth $98,643,000 after acquiring an additional 42,520 shares during the period. PCJ Investment Counsel Ltd. increased its stake in shares of Brookfield by 18.8% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 110,740 shares of the company’s stock valued at $6,858,000 after acquiring an additional 17,510 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its position in shares of Brookfield by 24.4% during the 2nd quarter. Prospera Financial Services Inc now owns 7,875 shares of the company’s stock valued at $487,000 after acquiring an additional 1,543 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Brookfield stock opened at $43.89 on Monday. The stock has a market capitalization of $108.63 billion, a P/E ratio of 153.12 and a beta of 1.73. The company’s fifty day moving average price is $45.67 and its 200 day moving average price is $42.92. 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 1 year low of $29.07 and a 1 year high of $49.47.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, equities research analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BN. Morgan Stanley set a $54.00 target price on Brookfield and gave the company an “overweight” rating in a research report on Monday, October 13th. Zacks Research lowered Brookfield from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Brookfield in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted 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. Finally, The Goldman Sachs Group began coverage on shares of Brookfield in a research report on Tuesday, September 2nd. They set a “buy” rating and a $52.00 target price for the company. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $53.47.

About Brookfield

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.