Brookfield Corporation $BN Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in shares of Brookfield Corporation (NYSE:BN) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,048,762 shares of the company’s stock after selling 215,660 shares during the period. Legal & General Group Plc owned 0.43% of Brookfield worth $435,412,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BN. Hilltop National Bank acquired a new position in Brookfield during the 2nd quarter worth $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Brookfield during the second quarter valued at about $33,000. Financial Gravity Companies Inc. acquired a new stake in Brookfield in the second quarter worth about $51,000. Salomon & Ludwin LLC bought a new position in Brookfield in the 2nd quarter valued at about $62,000. Finally, Brooklyn Investment Group bought a new position in Brookfield in the 1st quarter valued at about $54,000. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BN shares. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Royal Bank Of Canada upped their price objective on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Scotiabank lifted their target price on Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Zacks Research lowered shares of Brookfield from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Brookfield presently has a consensus rating of “Buy” and a consensus price target of $53.47.

Brookfield Price Performance

NYSE BN opened at $44.72 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.47. The company has a market cap of $110.68 billion, a PE ratio of 156.00 and a beta of 1.73. The stock’s 50-day moving average price is $45.54 and its two-hundred day moving average price is $43.07.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. On average, 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 will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s dividend payout ratio is currently 66.67%.

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.