Summit Trail Advisors LLC Sells 9,147 Shares of Brookfield Corporation (NYSE:BN)

Summit Trail Advisors LLC decreased its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,521 shares of the company's stock after selling 9,147 shares during the quarter. Summit Trail Advisors LLC's holdings in Brookfield were worth $1,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Brookfield during the 1st quarter worth $26,000. ST Germain D J Co. Inc. bought a new position in shares of Brookfield in the 1st quarter worth $28,000. CoreCap Advisors LLC acquired a new stake in shares of Brookfield during the fourth quarter worth $29,000. Golden State Wealth Management LLC increased its holdings in Brookfield by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock valued at $31,000 after purchasing an additional 296 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Brookfield by 164.0% in the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company's stock valued at $42,000 after buying an additional 451 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Up 1.1%

Shares of NYSE:BN traded up $0.69 during mid-day trading on Wednesday, reaching $62.67. 2,015,908 shares of the stock were exchanged, compared to its average volume of 2,442,209. The stock's 50 day simple moving average is $57.77 and its 200-day simple moving average is $56.20. Brookfield Corporation has a one year low of $40.82 and a one year high of $62.83. The company has a market cap of $103.28 billion, a P/E ratio of 223.82 and a beta of 1.66. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly 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 return on equity of 4.20% and a net margin of 0.76%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities research analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is currently 128.57%.

Analyst Ratings Changes

BN has been the subject of a number of recent analyst reports. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a research note on Sunday, June 8th. Scotiabank cut their target price on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Finally, TD Securities dropped their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.13.

Brookfield Company 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.