Ruffer LLP Reduces Stock Holdings in Brookfield Corporation (NYSE:BN)

Key Points

• Ruffer LLP has decreased its stake in Brookfield Corporation by 39.9% in the first quarter, currently holding 56,500 shares valued at approximately $2.96 million.
• Several hedge funds have adjusted their positions in Brookfield, with Accent Capital Management LLC increasing its stake by 574.7% during the same period.
• Brookfield recently announced a quarterly dividend of $0.09, resulting in a 0.6% dividend yield and a dividend payout ratio of 128.57%.

Ruffer LLP lowered its position in Brookfield Corporation (NYSE:BN - Free Report) by 39.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,500 shares of the company's stock after selling 37,500 shares during the quarter. Ruffer LLP's holdings in Brookfield were worth $2,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Brookfield in the 1st quarter valued at about $26,000. North Capital Inc. bought a new stake in shares of Brookfield in the 1st quarter valued at about $27,000. ST Germain D J Co. Inc. acquired a new stake in Brookfield in the 1st quarter worth approximately $28,000. CoreCap Advisors LLC acquired a new stake in Brookfield in the 4th quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC boosted its stake in Brookfield by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after purchasing an additional 296 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Up 0.9%

Shares of BN traded up $0.63 during mid-day trading on Tuesday, hitting $67.25. 2,871,127 shares of the company's stock were exchanged, compared to its average volume of 2,567,046. The stock's 50-day moving average is $62.39 and its 200-day moving average is $57.66. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. Brookfield Corporation has a fifty-two week low of $42.39 and a fifty-two week high of $68.75. The company has a market cap of $110.88 billion, a price-to-earnings ratio of 240.18 and a beta of 1.70.

Brookfield (NYSE:BN - Get Free Report) last released its earnings results 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. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, June 13th. Brookfield's dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of recent analyst reports. National Bank Financial initiated coverage on shares of Brookfield in a research note on Tuesday, July 29th. They issued an "outperform" rating and a $82.00 target price for the company. Wall Street Zen cut shares of Brookfield from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. TD Securities raised their price target on shares of Brookfield from $74.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday. Royal Bank Of Canada began coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Brookfield presently has an average rating of "Moderate Buy" and an average price target of $70.80.

About Brookfield

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.