MGO One Seven LLC Sells 12,415 Shares of Brookfield Corporation (NYSE:BN)

Key Points

• MGO One Seven LLC cut its stake in Brookfield Corporation by 22.8%, owning 41,960 shares valued at $2.2 million after selling 12,415 shares.
• Brookfield's stock currently has an average target price of $70.00, with a consensus rating of "Moderate Buy" and recent adjustments by several analysts.
• The company has a dividend payout ratio of 128.57% and recently announced a quarterly dividend of $0.09 per share, reflecting a 0.6% yield.

MGO One Seven LLC trimmed its position in Brookfield Corporation (NYSE:BN - Free Report) by 22.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 41,960 shares of the company's stock after selling 12,415 shares during the period. MGO One Seven LLC's holdings in Brookfield were worth $2,199,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Brookfield by 16.6% during the 1st quarter. GAMMA Investing LLC now owns 2,282 shares of the company's stock valued at $120,000 after acquiring an additional 325 shares during the period. Inscription Capital LLC bought a new position in shares of Brookfield during the 1st quarter valued at approximately $285,000. Assenagon Asset Management S.A. grew its position in shares of Brookfield by 0.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 43,333 shares of the company's stock valued at $2,267,000 after acquiring an additional 297 shares during the period. Golden State Wealth Management LLC grew its position in shares of Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock valued at $31,000 after acquiring an additional 296 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Brookfield by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,466,685 shares of the company's stock valued at $129,279,000 after acquiring an additional 23,590 shares during the period. 61.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on BN shares. Scotiabank upped their price target on shares of Brookfield from $69.00 to $75.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. JPMorgan Chase & Co. dropped their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. TD Securities upped their price target on shares of Brookfield from $74.00 to $82.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, National Bankshares set a $82.00 price target on shares of Brookfield and gave the company an "outperform" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $70.80.

Brookfield Price Performance

NYSE BN traded up $0.34 on Wednesday, hitting $67.52. The stock had a trading volume of 1,613,604 shares, compared to its average volume of 2,636,648. Brookfield Corporation has a 52-week low of $42.39 and a 52-week high of $68.75. 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 company has a market capitalization of $111.32 billion, a price-to-earnings ratio of 241.25 and a beta of 1.70. The firm has a 50-day moving average of $62.39 and a 200-day moving average of $57.66.

Brookfield (NYSE:BN - Get Free Report) last posted its earnings results 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 business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Equities analysts expect that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued 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 0.5%. Brookfield's dividend payout ratio is presently 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.