AGF Management Ltd. Sells 866,986 Shares of Brookfield Corporation $BN

AGF Management Ltd. trimmed its position in Brookfield Corporation (NYSE:BN) by 35.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,571,255 shares of the company’s stock after selling 866,986 shares during the quarter. AGF Management Ltd. owned 0.06% of Brookfield worth $108,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BN. Hilltop National Bank purchased a new stake in shares of Brookfield during the second quarter valued at approximately $30,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Brookfield in the second quarter worth $32,000. Ameritas Advisory Services LLC purchased a new position in Brookfield during the 2nd quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 330 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in Brookfield during the 3rd quarter valued at $40,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $49.00 price objective (up previously from $46.00) on shares of Brookfield in a report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. CIBC restated an “outperform” rating and set a $52.00 price target (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Brookfield presently has a consensus rating of “Buy” and a consensus price target of $54.27.

Brookfield Stock Performance

Shares of BN opened at $45.56 on Monday. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The stock has a market capitalization of $112.84 billion, a PE ratio of 126.56 and a beta of 1.57. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The stock has a 50-day simple moving average of $46.58 and a 200-day simple moving average of $45.50.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. On average, analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s payout ratio is currently 66.67%.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.