Choreo LLC Reduces Stock Position in Brookfield Corporation $BN

Choreo LLC decreased its stake in shares of Brookfield Corporation (NYSE:BN) by 47.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,336 shares of the company’s stock after selling 13,822 shares during the quarter. Choreo LLC’s holdings in Brookfield were worth $949,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of Brookfield by 1.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 695,951 shares of the company’s stock worth $43,006,000 after acquiring an additional 10,222 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Brookfield by 7.5% during the second quarter. J.W. Cole Advisors Inc. now owns 7,424 shares of the company’s stock worth $459,000 after purchasing an additional 515 shares during the last quarter. Aviso Financial Inc. raised its stake in Brookfield by 2.0% during the second quarter. Aviso Financial Inc. now owns 1,387,983 shares of the company’s stock worth $85,888,000 after purchasing an additional 26,743 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Brookfield by 0.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 47,683 shares of the company’s stock worth $2,949,000 after purchasing an additional 412 shares during the period. Finally, CreativeOne Wealth LLC acquired a new position in Brookfield in the 2nd quarter valued at about $260,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Up 1.6%

Shares of NYSE BN opened at $47.35 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average is $45.50 and its two-hundred day moving average is $43.43. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.47. The firm has a market cap of $117.18 billion, a price-to-earnings ratio of 165.16 and a beta of 1.73.

Brookfield (NYSE:BN) last released its quarterly 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 return on equity of 3.77% and a net margin of 1.11%.The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Research analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Brookfield’s dividend payout ratio is 66.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BN. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Monday, November 24th. BMO Capital Markets increased their price objective on Brookfield from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. TD Securities raised their target price on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Cowen restated a “buy” rating on shares of Brookfield in a research report on Friday, August 8th. Finally, CIBC reaffirmed an “outperform” rating and issued a $52.00 price target (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Two 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 company. Based on data from MarketBeat, Brookfield has an average rating of “Buy” and a consensus target price of $53.47.

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.