AIA Group Ltd Reduces Stock Position in Brookfield Corporation $BN

AIA Group Ltd cut its stake in shares of Brookfield Corporation (NYSE:BN) by 30.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,425 shares of the company’s stock after selling 21,875 shares during the period. AIA Group Ltd’s holdings in Brookfield were worth $2,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC bought a new stake in shares of Brookfield during the 4th quarter valued at about $26,000. Quattro Advisors LLC purchased a new stake in Brookfield during the fourth quarter valued at approximately $26,000. Exchange Traded Concepts LLC bought a new position in Brookfield in the fourth quarter worth approximately $27,000. Truvestments Capital LLC raised its position in Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares during the period. Finally, Hilltop National Bank boosted its stake in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after acquiring an additional 241 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Up 0.0%

Shares of BN opened at $43.63 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The company has a 50 day simple moving average of $44.54 and a two-hundred day simple moving average of $44.48. The firm has a market cap of $106.96 billion, a P/E ratio of 85.56 and a beta of 1.54.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s dividend payout ratio is 54.90%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BN. Scotia boosted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. TD Securities reiterated a “buy” rating and set a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. Scotiabank reissued an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.82.

About Brookfield

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.