IFC Advisors LLC acquired a new stake in Brookfield Corporation (NYSE:BN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,747 shares of the company's stock, valued at approximately $249,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. grew its position in Brookfield by 1.7% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock worth $618,000 after buying an additional 170 shares in the last quarter. Haverford Trust Co grew its position in Brookfield by 4.7% during the fourth quarter. Haverford Trust Co now owns 4,308 shares of the company's stock worth $247,000 after buying an additional 192 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Brookfield by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after buying an additional 197 shares in the last quarter. Checchi Capital Advisers LLC grew its position in Brookfield by 2.9% during the first quarter. Checchi Capital Advisers LLC now owns 7,375 shares of the company's stock worth $387,000 after buying an additional 209 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in Brookfield by 5.8% during the fourth quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company's stock worth $250,000 after buying an additional 240 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on BN shares. Scotiabank reduced their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. CIBC lowered their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. 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. Wall Street Zen lowered Brookfield from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Brookfield currently has a consensus rating of "Moderate Buy" and an average price target of $66.13.
View Our Latest Stock Analysis on BN
Brookfield Trading Down 1.3%
NYSE:BN opened at $63.12 on Friday. 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 capitalization of $104.02 billion, a PE ratio of 225.43 and a beta of 1.66. The firm's 50 day moving average is $59.35 and its 200 day moving average is $56.55. Brookfield Corporation has a 12 month low of $42.21 and a 12 month high of $64.55.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. Sell-side analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.
Brookfield Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued 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 yield of 0.57%. Brookfield's payout ratio is 128.57%.
About Brookfield
(
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.
See Also
Want to see what other hedge funds are holding BN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Corporation (NYSE:BN - Free Report).
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