Sequoia Financial Advisors LLC Reduces Stock Position in Brookfield Corporation $BN

Key Points

• Sequoia Financial Advisors reduced its Brookfield position by 2.2%, selling 26,882 shares and retaining 1.19 million shares valued at approximately $50.5 million.
• Other institutional investors largely increased their holdings, and institutional ownership now accounts for 61.6% of Brookfield’s stock. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $57.40 price target.
• Brookfield shares opened at $38.55, near their 52-week low, while the company exceeded quarterly earnings expectations with $0.66 in EPS. Brookfield also declared a quarterly dividend of $0.07 per share, equivalent to a 0.7% annualized yield.

Sequoia Financial Advisors LLC decreased its position in Brookfield Corporation (NYSE:BN - Free Report) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,185,621 shares of the company's stock after selling 26,882 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Brookfield were worth $50,496,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BN. Capital Research Global Investors boosted its position in Brookfield by 47.0% during the 4th quarter. Capital Research Global Investors now owns 2,134,876 shares of the company's stock valued at $98,022,000 after acquiring an additional 682,137 shares in the last quarter. Cardinal Capital Management Inc. lifted its stake in shares of Brookfield by 2.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company's stock valued at $138,287,000 after purchasing an additional 80,738 shares during the period. HighTower Advisors LLC boosted its position in shares of Brookfield by 38.5% during the fourth quarter. HighTower Advisors LLC now owns 233,889 shares of the company's stock valued at $10,734,000 after purchasing an additional 65,070 shares in the last quarter. Barr E S & Co. grew its stake in Brookfield by 48.3% in the fourth quarter. Barr E S & Co. now owns 916,671 shares of the company's stock worth $42,066,000 after purchasing an additional 298,380 shares during the period. Finally, HughesLittle Investment Management Ltd. raised its holdings in Brookfield by 47.2% in the fourth quarter. HughesLittle Investment Management Ltd. now owns 1,542,185 shares of the company's stock worth $70,909,000 after purchasing an additional 494,461 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent research reports. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. Royal Bank Of Canada lowered their target price on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating for the company in a report on Friday, May 15th. Scotiabank restated an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. BMO Capital Markets upgraded shares of Brookfield to a "strong-buy" rating in a research note on Monday, July 27th. Finally, TD Securities reissued a "buy" rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $57.40.

Brookfield Trading Down 1.8%

Shares of BN stock opened at $38.55 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The company has a market cap of $94.51 billion, a price-to-earnings ratio of 70.09 and a beta of 1.53. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The firm has a fifty day moving average price of $42.52 and a 200-day moving average price of $43.22.

Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. As a group, equities analysts predict that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield's payout ratio is currently 50.91%.

Brookfield Company Profile

Brookfield Corporation NYSE: BN is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.

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