Bamco Inc. NY Acquires 493,211 Shares of Brookfield Corporation $BN

Bamco Inc. NY increased its holdings in shares of Brookfield Corporation (NYSE:BN) by 24.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,510,075 shares of the company’s stock after acquiring an additional 493,211 shares during the quarter. Bamco Inc. NY owned about 0.15% of Brookfield worth $155,248,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BN. Hilltop National Bank bought a new position in shares of Brookfield in the second quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC acquired a new position in Brookfield in the 2nd quarter valued at about $32,000. Ameritas Advisory Services LLC bought a new position in Brookfield in the 2nd quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC lifted its position in Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 330 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Brookfield during the second quarter worth approximately $51,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 2.0%

Shares of NYSE:BN opened at $45.64 on Friday. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.47. The company has a market capitalization of $112.99 billion, a PE ratio of 126.76 and a beta of 1.57. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The company has a fifty day moving average of $45.56 and a 200-day moving average of $43.89.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. On average, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Zacks Research cut Brookfield from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. TD Securities lifted their target price on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Royal Bank Of Canada upped their price target on shares of Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, JPMorgan Chase & Co. boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Brookfield presently has a consensus rating of “Buy” and an average 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.