Korea Investment CORP Purchases 215,140 Shares of Brookfield Co. (NYSE:BN)

Korea Investment CORP increased its position in Brookfield Co. (NYSE:BN) by 28.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 960,214 shares of the company’s stock after acquiring an additional 215,140 shares during the quarter. Korea Investment CORP’s holdings in Brookfield were worth $55,161,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in Brookfield by 809.5% during the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after buying an additional 3,271,403 shares during the period. Regents of The University of California acquired a new position in shares of Brookfield in the fourth quarter worth approximately $154,140,000. Raymond James Financial Inc. bought a new stake in Brookfield in the fourth quarter valued at approximately $82,795,000. Toronto Dominion Bank increased its position in Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after purchasing an additional 1,301,072 shares during the period. Finally, Madison Investment Advisors LLC bought a new position in Brookfield during the 4th quarter worth approximately $69,700,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

Shares of Brookfield stock opened at $54.13 on Friday. The business has a 50-day simple moving average of $56.96 and a 200 day simple moving average of $56.12. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The firm has a market capitalization of $89.13 billion, a price-to-earnings ratio of 180.42 and a beta of 1.65.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, research analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio is currently 120.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BN. Morgan Stanley initiated coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. TD Securities increased their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. CIBC boosted their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Finally, Scotiabank raised their target price on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.