Sequoia Financial Advisors LLC Sells 112,292 Shares of Brookfield Corporation (NYSE:BN)

Sequoia Financial Advisors LLC reduced its position in Brookfield Corporation (NYSE:BN) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807,058 shares of the company’s stock after selling 112,292 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Brookfield were worth $42,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in BN. SOL Capital Management CO raised its holdings in Brookfield by 52.3% in the first quarter. SOL Capital Management CO now owns 46,551 shares of the company’s stock worth $2,440,000 after purchasing an additional 15,985 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in Brookfield by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares in the last quarter. Hi Line Capital Management LLC raised its holdings in Brookfield by 2.2% in the first quarter. Hi Line Capital Management LLC now owns 215,470 shares of the company’s stock worth $11,293,000 after purchasing an additional 4,692 shares in the last quarter. Kirr Marbach & Co. LLC IN raised its holdings in Brookfield by 0.7% in the first quarter. Kirr Marbach & Co. LLC IN now owns 176,735 shares of the company’s stock worth $9,263,000 after purchasing an additional 1,263 shares in the last quarter. Finally, Davidson Kahn Capital Management LLC raised its holdings in Brookfield by 11.6% in the first quarter. Davidson Kahn Capital Management LLC now owns 57,038 shares of the company’s stock worth $2,989,000 after purchasing an additional 5,929 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Securities reduced their target price on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a report on Monday, May 5th. CIBC reduced their target price on shares of Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a report on Friday, May 9th. Scotiabank reduced their target price on shares of Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a report on Monday, April 7th. Morgan Stanley restated an “overweight” rating on shares of Brookfield in a report on Monday, May 19th. Finally, Royal Bank Of Canada started coverage on shares of Brookfield in a report on Wednesday, June 18th. They set an “outperform” rating and a $81.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $66.13.

Brookfield Stock Performance

BN opened at $60.20 on Thursday. Brookfield Corporation has a 52-week low of $40.61 and a 52-week high of $62.78. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. The company has a market cap of $99.21 billion, a P/E ratio of 215.00 and a beta of 1.66. The firm’s 50-day moving average price is $56.79 and its 200-day moving average price is $56.16.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. As a group, equities analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.60%. Brookfield’s dividend payout ratio is currently 128.57%.

Brookfield Profile

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.