Lansforsakringar Fondforvaltning AB publ Increases Stake in Brookfield Corporation $BN

Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Brookfield Corporation (NYSE:BN) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,169 shares of the company’s stock after acquiring an additional 15,454 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Brookfield were worth $20,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BN. Twin Peaks Wealth Advisors LLC bought a new position in shares of Brookfield during the second quarter valued at approximately $32,000. First Horizon Corp bought a new stake in Brookfield during the 3rd quarter valued at $40,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 330 shares during the period. Versant Capital Management Inc raised its position in shares of Brookfield by 507.5% in the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after acquiring an additional 543 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Brookfield during the 2nd quarter worth $51,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.4%

NYSE BN opened at $45.98 on Monday. The stock has a market cap of $112.65 billion, a P/E ratio of 93.21 and a beta of 1.57. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.56. The company has a fifty day simple moving average of $46.61 and a two-hundred day simple moving average of $45.69.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. On average, analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. This is a boost from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is 48.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BN. TD Securities boosted their target price on shares of Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $52.00 price target (up from $50.67) on shares of Brookfield in a research report on Friday, November 14th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.59.

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.