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Bank of Nova Scotia Sells 23,720 Shares of Brookfield Corporation (NYSE:BN)

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Bank of Nova Scotia cut its stake in Brookfield Corporation (NYSE:BN - Free Report) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,707,143 shares of the company's stock after selling 23,720 shares during the period. Brookfield accounts for 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of BN. Malaga Cove Capital LLC grew its stake in shares of Brookfield by 185.7% in the first quarter. Malaga Cove Capital LLC now owns 10,881 shares of the company's stock worth $570,000 after purchasing an additional 7,072 shares during the last quarter. Banco Santander S.A. purchased a new stake in Brookfield in the first quarter worth about $509,000. PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield by 7.7% during the first quarter. PNC Financial Services Group Inc. now owns 178,082 shares of the company's stock valued at $9,333,000 after purchasing an additional 12,666 shares during the last quarter. TIAA Trust National Association grew its stake in shares of Brookfield by 8.3% in the 1st quarter. TIAA Trust National Association now owns 23,021 shares of the company's stock worth $1,207,000 after buying an additional 1,762 shares during the last quarter. Finally, Heritage Wealth Advisors grew its stake in shares of Brookfield by 2.2% in the first 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. 61.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BN shares. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada assumed coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price objective on the stock. National Bank Financial initiated coverage on Brookfield in a report on Tuesday, July 29th. They issued an "outperform" rating and a $82.00 price target on the stock. Wall Street Zen cut shares of Brookfield from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.80.

Read Our Latest Stock Report on Brookfield

Brookfield Stock Up 0.5%

NYSE BN traded up $0.36 during trading on Wednesday, reaching $67.54. The company's stock had a trading volume of 2,486,442 shares, compared to its average volume of 2,639,472. Brookfield Corporation has a 1-year low of $42.39 and a 1-year high of $68.75. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The business has a 50-day moving average price of $62.39 and a 200-day moving average price of $57.66. The stock has a market capitalization of $111.36 billion, a PE ratio of 241.22 and a beta of 1.70.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. On average, research analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is presently 128.57%.

Brookfield Profile

(Free Report)

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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Institutional Ownership by Quarter for Brookfield (NYSE:BN)

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