Bamco Inc. NY Sells 107,795 Shares of Brookfield Corporation $BN

Key Points

• Bamco Inc. NY trimmed its stake in Brookfield Corporation by 4.3%, selling 107,795 shares in Q3 and now holds 2,402,280 shares worth $164,748,000 (about 0.10% of the company).
• Brookfield raised its quarterly dividend to $0.07 (annualized $0.28) from $0.06, implying a yield of ~0.7% and a payout ratio near 49%.
• The company beat quarterly EPS estimates ($0.67 vs. $0.61) on $1.63B revenue, and analysts have a consensus rating of “Moderate Buy” with a $54.59 target price.

Bamco Inc. NY cut its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,402,280 shares of the company's stock after selling 107,795 shares during the quarter. Bamco Inc. NY owned 0.10% of Brookfield worth $164,748,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new position in Brookfield during the second quarter valued at $32,000. First Horizon Corp purchased a new position in shares of Brookfield in the 3rd quarter worth $40,000. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company's stock worth $39,000 after buying an additional 330 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Brookfield by 507.5% during the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $45,000 after buying an additional 543 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Brookfield during the 2nd quarter valued at about $51,000. Institutional investors own 61.60% of the company's stock.

Brookfield Stock Down 1.0%

Shares of NYSE:BN opened at $38.38 on Friday. The firm has a market capitalization of $94.01 billion, a PE ratio of 77.79 and a beta of 1.58. The business has a 50 day simple moving average of $45.60 and a two-hundred day simple moving average of $45.59. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. 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 (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. On average, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.07 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. This is an increase from Brookfield's previous quarterly dividend of $0.06. Brookfield's payout ratio is currently 48.98%.

Analyst Ratings Changes

Several research analysts recently commented on BN shares. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Scotiabank reissued an "outperform" rating and set a $52.00 target price (up from $49.00) on shares of Brookfield in a research report on Friday, February 13th. Zacks Research upgraded Brookfield from a "strong sell" rating to a "hold" rating in a report on Monday, January 19th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Brookfield in a research report on Monday, December 1st. Finally, Royal Bank Of Canada lifted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Brookfield has a consensus rating of "Moderate Buy" and a consensus target price of $54.59.

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.

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