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

Sequoia Financial Advisors LLC decreased its position in shares of Brookfield Corporation (NYSE:BN) by 2.2% in the second quarter, HoldingsChannel reports. 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 reporting period.

A number of other hedge funds also recently made changes to their positions in BN. MCF Advisors LLC bought a new position in shares of Brookfield during the 4th quarter valued at approximately $26,000. Quattro Advisors LLC purchased a new stake in Brookfield during the fourth quarter valued at approximately $26,000. Truvestments Capital LLC increased its position in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the last quarter. Entrust Financial LLC purchased a new stake in shares of Brookfield in the fourth quarter valued at $35,000. Finally, Delta Asset Management LLC TN grew its holdings in Brookfield by 49.8% during the 4th quarter. Delta Asset Management LLC TN now owns 935 shares of the company’s stock valued at $43,000 after purchasing an additional 311 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BN shares. Scotia upped their target price on Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. TD boosted their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. TD Securities reaffirmed a “buy” rating and issued a $60.00 price target on shares of Brookfield in a research note on Tuesday, May 19th. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Royal Bank Of Canada reduced their target price on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $57.40.

Brookfield Stock Performance

Shares of NYSE:BN opened at $38.55 on Thursday. The company has a market capitalization of $94.51 billion, a price-to-earnings ratio of 70.09 and a beta of 1.53. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average of $42.52 and a 200 day moving average of $43.22.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. On average, sell-side analysts predict that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be given a dividend of $0.07 per share. 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 dividend payout ratio (DPR) is presently 50.91%.

Brookfield 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.