Private Management Group Inc. Has $34.33 Million Holdings in Brookfield Corporation $BN

Private Management Group Inc. boosted its stake in Brookfield Corporation (NYSE:BN) by 45.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 747,996 shares of the company’s stock after purchasing an additional 234,063 shares during the quarter. Private Management Group Inc.’s holdings in Brookfield were worth $34,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chemistry Wealth Management LLC raised its stake in Brookfield by 51.6% in the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after purchasing an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in Brookfield by 110.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after purchasing an additional 122,040 shares in the last quarter. Florida Trust Wealth Management Co raised its stake in Brookfield by 49.0% in the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after purchasing an additional 387,068 shares in the last quarter. Citigroup Inc. raised its stake in Brookfield by 49.5% in the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after purchasing an additional 221,078 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE:BN opened at $44.99 on Friday. The stock has a market cap of $110.27 billion, a P/E ratio of 88.22 and a beta of 1.53. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The stock’s 50-day moving average is $44.83 and its 200-day moving average is $44.92. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be 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 is Monday, June 15th. Brookfield’s payout ratio is 54.90%.

Analyst Ratings Changes

BN has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. TD lifted their target price on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Scotia lifted their target price on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. lifted their target price on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, BMO Capital Markets lifted their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.82.

Brookfield 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.