Northwestern Mutual Wealth Management Co. Purchases 18,536,964 Shares of Brookfield Corporation $BN

by · The Cerbat Gem

Northwestern Mutual Wealth Management Co. increased its position in shares of Brookfield Corporation (NYSE:BNFree Report) by 8,784.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,747,973 shares of the company’s stock after acquiring an additional 18,536,964 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield were worth $860,344,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Brookfield by 48.9% during the 4th quarter. Bessemer Group Inc. now owns 7,120,759 shares of the company’s stock worth $326,772,000 after acquiring an additional 2,339,618 shares in the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Brookfield during the 4th quarter worth approximately $280,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Brookfield by 424.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 7,021 shares of the company’s stock worth $322,000 after acquiring an additional 5,681 shares in the last quarter. Wilson & Boucher Capital Management LLC raised its stake in shares of Brookfield by 50.0% during the 4th quarter. Wilson & Boucher Capital Management LLC now owns 5,314 shares of the company’s stock worth $244,000 after acquiring an additional 1,771 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Brookfield by 78.1% during the 4th quarter. Allworth Financial LP now owns 20,633 shares of the company’s stock worth $947,000 after acquiring an additional 9,045 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

BN opened at $45.48 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. The firm has a fifty day moving average price of $42.78 and a 200 day moving average price of $44.94. Brookfield Corporation has a 1 year low of $37.54 and a 1 year high of $49.56. The stock has a market cap of $111.45 billion, a P/E ratio of 89.17 and a beta of 1.55.

Brookfield (NYSE:BNGet Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.76% and a return on equity of 3.87%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Equities research analysts anticipate that Brookfield Corporation will post 2.94 earnings per share for the current year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.07 dividend. 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 currently 57.14%.

Brookfield News Summary

Here are the key news stories impacting Brookfield this week:

Analysts Set New Price Targets

Several research firms recently commented on BN. Royal Bank Of Canada reduced their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Scotia boosted their target price on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.40.

Check Out Our Latest Analysis on BN

Brookfield Company Profile

(Free Report)

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.

See Also

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