Brookfield Corporation (NYSE:BN) Shares Sold by Whittier Trust Co.

Whittier Trust Co. reduced its position in Brookfield Corporation (NYSE:BN - Free Report) by 13.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,644 shares of the company's stock after selling 4,932 shares during the period. Whittier Trust Co.'s holdings in Brookfield were worth $1,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BN. Strategic Wealth Partners Ltd. lifted its position in shares of Brookfield by 1.7% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock worth $618,000 after purchasing an additional 170 shares during the last quarter. Haverford Trust Co lifted its position in shares of Brookfield by 4.7% during the fourth quarter. Haverford Trust Co now owns 4,308 shares of the company's stock worth $247,000 after purchasing an additional 192 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Brookfield by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after purchasing an additional 197 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Brookfield by 2.9% during the first quarter. Checchi Capital Advisers LLC now owns 7,375 shares of the company's stock worth $387,000 after purchasing an additional 209 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in shares of Brookfield by 3.7% during the first quarter. Fidelis Capital Partners LLC now owns 7,364 shares of the company's stock worth $392,000 after purchasing an additional 265 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BN shares. JPMorgan Chase & Co. reduced their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. 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. Wall Street Zen cut shares of Brookfield from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Finally, TD Securities cut their target price on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.13.

Brookfield Stock Performance

Shares of NYSE:BN traded up $2.37 during trading hours on Thursday, hitting $68.16. The stock had a trading volume of 5,196,652 shares, compared to its average volume of 2,458,397. The stock's fifty day simple moving average is $59.91 and its 200 day simple moving average is $56.69. Brookfield Corporation has a 1-year low of $42.21 and a 1-year high of $68.66. The firm has a market capitalization of $112.33 billion, a price-to-earnings ratio of 15.74 and a beta of 1.66. 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 (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. 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 declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.53%. Brookfield's payout ratio is currently 128.57%.

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.