Choreo LLC Sells 13,692 Shares of Brookfield Corporation (NYSE:BN)

Choreo LLC lessened its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 32.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,158 shares of the company's stock after selling 13,692 shares during the quarter. Choreo LLC's holdings in Brookfield were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of BN. Norges Bank bought a new position in shares of Brookfield in the fourth quarter valued at approximately $973,591,000. Geode Capital Management LLC lifted its position in Brookfield by 32.0% during the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock worth $460,489,000 after buying an additional 1,930,218 shares in the last quarter. Capital World Investors lifted its position in shares of Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after purchasing an additional 1,782,034 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Brookfield by 51.9% in the fourth quarter. Bessemer Group Inc. now owns 4,839,267 shares of the company's stock valued at $278,016,000 after purchasing an additional 1,652,935 shares in the last quarter. Finally, FIL Ltd raised its position in shares of 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 acquiring an additional 1,640,903 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

Shares of BN traded up $0.14 during mid-day trading on Friday, reaching $67.59. The company's stock had a trading volume of 1,569,512 shares, compared to its average volume of 2,290,698. Brookfield Corporation has a 1-year low of $42.21 and a 1-year high of $68.75. The business has a 50-day simple moving average of $61.11 and a two-hundred day simple moving average of $57.17. 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 stock has a market cap of $111.43 billion, a P/E ratio of 241.38 and a beta of 1.66.

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, topping the consensus estimate of $0.90 by $0.08. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, June 13th. Brookfield's payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BN. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. TD Securities dropped their price target 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. Scotiabank reduced their price target on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 7th. Wall Street Zen downgraded Brookfield from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Royal Bank Of Canada initiated coverage on Brookfield in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company 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.