Cidel Asset Management Inc. Decreases Stake in Brookfield Corporation (NYSE:BN)

Cidel Asset Management Inc. decreased its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 92.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,630 shares of the company's stock after selling 231,344 shares during the quarter. Cidel Asset Management Inc.'s holdings in Brookfield were worth $923,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BN. Vontobel Holding Ltd. purchased a new position in Brookfield during the first quarter worth approximately $496,000. Smith Salley Wealth Management raised its holdings in shares of Brookfield by 0.6% during the 1st quarter. Smith Salley Wealth Management now owns 432,462 shares of the company's stock worth $22,665,000 after acquiring an additional 2,764 shares during the period. Rochester Wealth Strategies LLC acquired a new position in shares of Brookfield during the 1st quarter valued at about $398,000. Schwartz Investment Counsel Inc. grew its holdings in shares of Brookfield by 2.5% in the first quarter. Schwartz Investment Counsel Inc. now owns 344,720 shares of the company's stock valued at $18,067,000 after purchasing an additional 8,500 shares during the period. Finally, Gold Investment Management Ltd. increased its position in Brookfield by 7.2% during the first quarter. Gold Investment Management Ltd. now owns 98,456 shares of the company's stock worth $5,154,000 after purchasing an additional 6,643 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. TD Securities lowered 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. CIBC decreased their price target on Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research note on Friday, May 9th. Royal Bank Of Canada started coverage on Brookfield in a report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target for the company. Finally, Scotiabank reduced their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $66.13.

Brookfield Trading Up 0.2%

Shares of BN stock traded up $0.12 on Tuesday, hitting $61.97. The stock had a trading volume of 1,102,123 shares, compared to its average volume of 2,438,237. The company's 50 day moving average price is $57.53 and its 200-day moving average price is $56.16. Brookfield Corporation has a 1 year low of $40.82 and a 1 year high of $62.78. The firm has a market capitalization of $102.13 billion, a P/E ratio of 221.32 and a beta of 1.67. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18.

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

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.58%. Brookfield's dividend payout ratio is presently 128.57%.

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.