Citigroup Inc. Buys 221,078 Shares of Brookfield Corporation $BN

Citigroup Inc. lifted its stake in shares of Brookfield Corporation (NYSE:BN) by 49.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 667,613 shares of the company’s stock after buying an additional 221,078 shares during the quarter. Citigroup Inc.’s holdings in Brookfield were worth $45,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BN. Triasima Portfolio Management inc. lifted its position in Brookfield by 9.0% during the third quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company’s stock valued at $19,825,000 after buying an additional 23,923 shares during the period. Principal Financial Group Inc. grew its position in shares of Brookfield by 1.6% in the 3rd quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock worth $3,487,338,000 after buying an additional 799,440 shares during the period. Citizens Financial Group Inc. RI increased its stake in shares of Brookfield by 777.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 45,777 shares of the company’s stock worth $3,139,000 after acquiring an additional 40,562 shares in the last quarter. Eldred Rock Partners LLC boosted its stake in Brookfield by 12.0% during the third quarter. Eldred Rock Partners LLC now owns 317,056 shares of the company’s stock worth $21,744,000 after acquiring an additional 34,008 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in Brookfield by 48.5% in the third quarter. Chicago Partners Investment Group LLC now owns 429,805 shares of the company’s stock worth $29,476,000 after purchasing an additional 140,383 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Trading Up 2.2%

Shares of NYSE:BN opened at $44.98 on Wednesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company has a market cap of $110.18 billion, a P/E ratio of 91.17 and a beta of 1.57. The stock’s fifty day moving average price is $46.59 and its 200-day moving average price is $45.71.

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

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.07 dividend. This is an increase from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, March 17th. Brookfield’s dividend payout ratio is 57.14%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. TD Securities lifted their price objective on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley restated an “overweight” rating and set a $60.00 price target on shares of Brookfield in a report on Tuesday, February 17th. Finally, Zacks Research upgraded shares of Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.