Royal Bank of Canada Buys 122,628 Shares of Brookfield Corporation $BN

Royal Bank of Canada increased its stake in Brookfield Corporation (NYSE:BN) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,774,934 shares of the company’s stock after buying an additional 122,628 shares during the quarter. Brookfield makes up 0.8% of Royal Bank of Canada’s holdings, making the stock its 18th biggest position. Royal Bank of Canada’s holdings in Brookfield were worth $4,604,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of BN. AQR Capital Management LLC lifted its position in shares of Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after buying an additional 11,069 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after buying an additional 295 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Brookfield by 32.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock worth $353,000 after buying an additional 1,396 shares during the period. AXA S.A. boosted its holdings in shares of Brookfield by 42.2% during the 2nd quarter. AXA S.A. now owns 103,531 shares of the company’s stock worth $6,403,000 after buying an additional 30,703 shares during the period. Finally, Squarepoint Ops LLC grew its stake in Brookfield by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after buying an additional 5,821 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Up 0.9%

Shares of Brookfield stock opened at $42.47 on Wednesday. The firm’s 50 day moving average is $44.02 and its 200 day moving average is $44.23. The firm has a market capitalization of $104.09 billion, a PE ratio of 83.26 and a beta of 1.54. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.07 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BN shares. TD raised their price objective on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Scotia increased their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. National Bank Financial lifted their price target on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Morgan Stanley set a $59.00 price target on Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. boosted their price target on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.64.

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.