Ninety One North America Inc. Sells 78,708 Shares of Brookfield Corporation (NYSE:BN)

Ninety One North America Inc. cut its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 49.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 79,487 shares of the company's stock after selling 78,708 shares during the quarter. Ninety One North America Inc.'s holdings in Brookfield were worth $4,159,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BN. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Brookfield during the first quarter valued at approximately $26,000. North Capital Inc. acquired a new stake in Brookfield during the first quarter valued at approximately $27,000. ST Germain D J Co. Inc. acquired a new stake in Brookfield during the first quarter valued at approximately $28,000. CoreCap Advisors LLC acquired a new stake in Brookfield during the fourth quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC increased its stake in Brookfield by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after purchasing an additional 296 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Scotiabank reduced their price target on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. TD Securities decreased their price objective on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. cut 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. Finally, Royal Bank Of Canada began coverage on Brookfield in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.13.

Brookfield Stock Down 2.1%

Shares of NYSE:BN traded down $1.35 during trading on Monday, reaching $62.95. 2,127,227 shares of the company traded hands, compared to its average volume of 2,451,127. The firm has a fifty day simple moving average of $58.45 and a 200 day simple moving average of $56.33. The firm has a market cap of $103.74 billion, a P/E ratio of 224.82 and a beta of 1.66. Brookfield Corporation has a 1-year low of $42.21 and a 1-year high of $64.76. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN - Get Free Report) last issued 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. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. Analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.57%. Brookfield's dividend payout ratio is currently 128.57%.

About Brookfield

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.