Squarepoint Ops LLC Sells 216,750 Shares of Brookfield Corporation $BN

Key Points

• Squarepoint Ops LLC cut its Brookfield stake by 86.1% in the second quarter, selling 216,750 shares and retaining 34,955 shares valued at approximately $1.49 million.
• Wall Street remains generally bullish: Brookfield has an average “Moderate Buy” rating and a consensus price target of $57.40, well above its reported $37.12 opening price.
• Brookfield exceeded quarterly earnings expectations, posting $0.66 in EPS versus the $0.62 consensus estimate, and declared a $0.07 quarterly dividend, equivalent to a 0.8% annualized yield.

Squarepoint Ops LLC decreased its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 86.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,955 shares of the company's stock after selling 216,750 shares during the quarter. Squarepoint Ops LLC's holdings in Brookfield were worth $1,489,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MCF Advisors LLC purchased a new position in shares of Brookfield during the fourth quarter valued at approximately $26,000. Entrust Financial LLC bought a new position in Brookfield during the fourth quarter valued at approximately $35,000. Delta Asset Management LLC TN boosted its holdings in Brookfield by 49.8% in the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company's stock worth $43,000 after purchasing an additional 311 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new stake in Brookfield in the fourth quarter worth approximately $44,000. Finally, Seneschal Advisors LLC grew its position in Brookfield by 49.9% in the 4th quarter. Seneschal Advisors LLC now owns 1,012 shares of the company's stock worth $46,000 after purchasing an additional 337 shares during the period. Hedge funds and other institutional investors own 61.60% of the company's stock.

Wall Street Analyst Weigh In

BN has been the subject of a number of research reports. Scotiabank reiterated an "outperform" rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. TD Securities restated a "buy" rating and issued a $60.00 price target on shares of Brookfield in a research note on Tuesday, May 19th. TD lifted their price objective on Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Finally, Scotia increased their target price on Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.40.

Brookfield Stock Down 1.3%

BN opened at $37.12 on Wednesday. The firm's 50 day simple moving average is $42.04 and its two-hundred day simple moving average is $43.01. The company has a market capitalization of $91.00 billion, a PE ratio of 67.48 and a beta of 1.53. Brookfield Corporation has a 1-year low of $37.02 and a 1-year high of $49.56. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54.

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

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Brookfield's dividend payout ratio (DPR) is 50.91%.

About Brookfield

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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