Denali Advisors LLC lowered its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 23.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,961 shares of the company's stock after selling 7,589 shares during the quarter. Denali Advisors LLC's holdings in Brookfield were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Brookfield by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock worth $3,443,129,000 after acquiring an additional 974,533 shares during the period. Capital World Investors grew its holdings in shares of Brookfield by 3.1% in the fourth 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 during the period. FIL Ltd grew its holdings in shares of Brookfield by 8.8% in 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 period. Norges Bank bought a new stake in shares of Brookfield in the fourth quarter worth $973,591,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company's stock worth $682,497,000 after acquiring an additional 129,735 shares during the period. Hedge funds and other institutional investors own 61.60% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on BN shares. Royal Bank Of Canada started coverage on Brookfield in a report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 price objective for the company. TD Securities cut their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a report on Monday, May 5th. CIBC cut their price target on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. Scotiabank cut their price target on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $66.13.
Check Out Our Latest Stock Analysis on BN
Brookfield Price Performance
Shares of NYSE BN traded down $0.84 during mid-day trading on Friday, reaching $67.30. The company's stock had a trading volume of 1,946,896 shares, compared to its average volume of 2,460,441. The firm has a market capitalization of $110.91 billion, a PE ratio of 240.36 and a beta of 1.66. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18. The stock has a fifty day moving average of $60.34 and a two-hundred day moving average of $56.83. Brookfield Corporation has a 52 week low of $42.21 and a 52 week high of $68.75.
Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. As a group, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.
Brookfield Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is 128.57%.
Brookfield Company Profile
(
Free Report)
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.
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