Envestnet Portfolio Solutions Inc. Sells 5,281 Shares of Brookfield Corporation (NYSE:BN)

Envestnet Portfolio Solutions Inc. cut its stake in Brookfield Corporation (NYSE:BN - Free Report) by 55.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,169 shares of the company's stock after selling 5,281 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Brookfield were worth $218,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Brookfield in the fourth quarter valued at approximately $973,591,000. Geode Capital Management LLC boosted its stake in shares of Brookfield by 32.0% in the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock valued at $460,489,000 after buying an additional 1,930,218 shares in the last quarter. Capital World Investors boosted its stake in shares of Brookfield by 3.1% during the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after acquiring an additional 1,782,034 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Brookfield by 51.9% during the 4th quarter. Bessemer Group Inc. now owns 4,839,267 shares of the company's stock worth $278,016,000 after buying an additional 1,652,935 shares during the last quarter. Finally, FIL Ltd increased its position in Brookfield by 8.8% during the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company's stock worth $1,169,912,000 after buying an additional 1,640,903 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Up 1.1%

Shares of NYSE:BN traded up $0.69 during midday trading on Wednesday, reaching $62.67. 2,015,908 shares of the company were exchanged, compared to its average volume of 2,444,520. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. The firm has a market cap of $103.28 billion, a PE ratio of 14.83 and a beta of 1.66. The stock has a fifty day simple moving average of $57.77 and a two-hundred day simple moving average of $56.20. Brookfield Corporation has a fifty-two week low of $42.21 and a fifty-two week high of $63.07.

Brookfield (NYSE:BN - Get Free Report) last released its earnings results 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, sell-side analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.57%. Brookfield's payout ratio is 128.57%.

Analyst Ratings Changes

BN has been the topic of several recent research reports. Royal Bank Of Canada began coverage on Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target on the stock. CIBC reduced their target price on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. TD Securities decreased their price objective on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Brookfield currently has an average rating of "Moderate Buy" and a consensus price target of $66.13.

Brookfield Company 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.