Kestra Private Wealth Services LLC Sells 11,804 Shares of Brookfield Corporation (NYSE:BN)

Kestra Private Wealth Services LLC lowered its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,072 shares of the company's stock after selling 11,804 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Brookfield were worth $3,935,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BN. Envestnet Portfolio Solutions Inc. increased its position in shares of Brookfield by 4.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 9,450 shares of the company's stock worth $543,000 after purchasing an additional 415 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Brookfield by 3.6% during the fourth quarter. American Century Companies Inc. now owns 64,088 shares of the company's stock worth $3,684,000 after buying an additional 2,200 shares in the last quarter. Guardian Partners Inc. bought a new position in shares of Brookfield in the fourth quarter valued at approximately $16,387,000. Jackson Hill Advisors LLC boosted its holdings in shares of Brookfield by 5.8% in the 4th quarter. Jackson Hill Advisors LLC now owns 530,000 shares of the company's stock worth $30,448,000 after acquiring an additional 29,000 shares in the last quarter. Finally, LPL Financial LLC grew its position in Brookfield by 28.5% during the 4th quarter. LPL Financial LLC now owns 225,236 shares of the company's stock worth $12,940,000 after acquiring an additional 50,012 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. 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 price objective on the stock. Wall Street Zen downgraded shares of Brookfield from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. TD Securities decreased their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. Finally, Scotiabank decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Brookfield presently has an average rating of "Moderate Buy" and a consensus price target of $66.13.

Brookfield Stock Performance

Shares of Brookfield stock opened at $67.30 on Monday. The firm has a fifty day moving average of $60.34 and a two-hundred day moving average of $56.82. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. The stock has a market capitalization of $110.96 billion, a price-to-earnings ratio of 240.36 and a beta of 1.66. 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 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a dividend yield of 0.53%. Brookfield's dividend payout ratio is 128.57%.

Brookfield 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.

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