Brookfield Corporation $BN Shares Sold by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its Brookfield Corporation stake by 58.9% in the first quarter, selling over 2.0 million shares and ending with 1.43 million shares valued at about $57.8 million.
• Brookfield shares were up 1.2% to $41.69 in Friday trading, with the stock sitting between a 52-week low of $37.93 and a high of $49.56.
• The company recently paid a quarterly dividend of $0.07 per share and continues to draw favorable analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $56.64.

OMERS ADMINISTRATION Corp cut its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 58.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,427,505 shares of the company's stock after selling 2,049,178 shares during the period. OMERS ADMINISTRATION Corp owned 0.06% of Brookfield worth $57,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BN. Truvestments Capital LLC grew its position in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company's stock valued at $29,000 after acquiring an additional 213 shares during the period. Meadow Creek Wealth Advisors LLC lifted its stake in shares of Brookfield by 2.3% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company's stock valued at $417,000 after purchasing an additional 234 shares in the last quarter. New England Capital Financial Advisors LLC lifted its stake in shares of Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company's stock valued at $34,000 after purchasing an additional 251 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of Brookfield by 49.9% during the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company's stock worth $37,000 after purchasing an additional 270 shares during the period. Finally, State of Wyoming grew its holdings in shares of Brookfield by 6.0% during the 1st quarter. State of Wyoming now owns 5,151 shares of the company's stock worth $208,000 after purchasing an additional 290 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Up 1.2%

Shares of BN opened at $41.69 on Friday. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56. The stock has a 50-day moving average price of $44.12 and a 200 day moving average price of $44.34. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The company has a market capitalization of $102.18 billion, a P/E ratio of 81.74 and a beta of 1.54.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield's dividend payout ratio is 54.90%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Brookfield from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the stock an "overweight" rating in a research note on Tuesday. TD Securities reissued a "buy" rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. TD raised their target price on shares of Brookfield from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. Finally, Scotiabank restated an "outperform" rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.64.

Brookfield Company 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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