PensionDanmark Pensionsforsikringsaktieselskab Sells 79,297 Shares of Brookfield Corporation $BN

Key Points

• PensionDanmark cut its Brookfield Corporation stake by 21.9% in the second quarter, selling 79,297 shares and retaining 282,560 shares valued at approximately $12.05 million.
• Analysts remain broadly positive, with Brookfield receiving a consensus “Buy” rating and an average price target of $56.64; individual targets range from $53 to $62.
• Brookfield shares opened at $44.11, while the company recently paid a quarterly dividend of $0.07, equivalent to a 0.6% annualized yield.

PensionDanmark Pensionsforsikringsaktieselskab decreased its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 21.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 282,560 shares of the company's stock after selling 79,297 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab's holdings in Brookfield were worth $12,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MCF Advisors LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at about $26,000. Quattro Advisors LLC acquired a new position in shares of Brookfield in the fourth quarter worth approximately $26,000. Truvestments Capital LLC lifted its stake in shares of Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company's stock worth $29,000 after acquiring an additional 213 shares during the period. New England Capital Financial Advisors LLC boosted its holdings in Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company's stock valued at $34,000 after acquiring an additional 251 shares during the last quarter. Finally, Entrust Financial LLC bought a new stake in Brookfield in the fourth quarter valued at approximately $35,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on BN. Scotiabank restated an "outperform" rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lifted their target price on shares of Brookfield from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada dropped their target price on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $56.64.

Brookfield Price Performance

Shares of BN opened at $44.11 on Friday. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The business's 50 day moving average price is $43.66 and its two-hundred day moving average price is $44.02. The firm has a market cap of $108.14 billion, a PE ratio of 86.48 and a beta of 1.54.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.07 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield's payout ratio is currently 54.90%.

Brookfield Profile

Brookfield Corporation NYSE: BN is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield's services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.

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