Bank of Nova Scotia Has $613.05 Million Position in Brookfield Corporation (NYSE:BN)

Key Points

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Bank of Nova Scotia lowered its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,707,143 shares of the company's stock after selling 23,720 shares during the quarter. Brookfield comprises approximately 1.5% of Bank of Nova Scotia's investment portfolio, making the stock its 14th largest holding. Bank of Nova Scotia owned about 0.71% of Brookfield worth $613,051,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Malaga Cove Capital LLC grew its position in Brookfield by 185.7% in the 1st quarter. Malaga Cove Capital LLC now owns 10,881 shares of the company's stock valued at $570,000 after purchasing an additional 7,072 shares during the period. Banco Santander S.A. acquired a new stake in Brookfield in the 1st quarter valued at $509,000. PNC Financial Services Group Inc. boosted its holdings in Brookfield by 7.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 178,082 shares of the company's stock worth $9,333,000 after acquiring an additional 12,666 shares during the last quarter. TIAA Trust National Association boosted its holdings in Brookfield by 8.3% during the 1st quarter. TIAA Trust National Association now owns 23,021 shares of the company's stock worth $1,207,000 after acquiring an additional 1,762 shares during the last quarter. Finally, Heritage Wealth Advisors boosted its holdings in Brookfield by 2.2% during the 1st quarter. Heritage Wealth Advisors now owns 1,095,778 shares of the company's stock worth $57,430,000 after acquiring an additional 24,039 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of analyst reports. Scotiabank reaffirmed an "outperform" rating and set a $75.00 price objective (up from $69.00) on shares of Brookfield in a report on Wednesday. CIBC cut their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a report on Friday, May 9th. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the stock an "outperform" rating in a report on Tuesday. National Bank Financial initiated coverage on shares of Brookfield in a report on Tuesday. They set an "outperform" rating and a $82.00 price objective on the stock. Finally, TD Securities cut their price objective on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $70.00.

Brookfield Trading Down 2.6%

NYSE BN opened at $65.32 on Friday. The stock has a market capitalization of $107.70 billion, a price-to-earnings ratio of 233.29 and a beta of 1.70. Brookfield Corporation has a one year low of $42.21 and a one year high of $68.75. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18. The business's fifty day moving average is $62.02 and its 200-day moving average is $57.53.

Brookfield (NYSE:BN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. Equities research analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.6%. Brookfield's dividend payout ratio is 128.57%.

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.

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