Madison Asset Management LLC Sells 48,122 Shares of Brookfield Corporation $BN

Madison Asset Management LLC cut its holdings in Brookfield Corporation (NYSE:BN) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,120,935 shares of the company’s stock after selling 48,122 shares during the period. Madison Asset Management LLC’s holdings in Brookfield were worth $76,874,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC raised its holdings in Brookfield by 4.1% in the 2nd quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock worth $268,000 after purchasing an additional 172 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Brookfield by 7.1% in the second quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock worth $183,000 after buying an additional 197 shares during the period. Savant Capital LLC raised its stake in shares of Brookfield by 6.5% in the third quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after buying an additional 226 shares during the period. Advisors Capital Management LLC lifted its position in shares of Brookfield by 3.2% during the 2nd quarter. Advisors Capital Management LLC now owns 7,440 shares of the company’s stock valued at $460,000 after buying an additional 230 shares in the last quarter. Finally, State of Wyoming grew its stake in shares of Brookfield by 7.8% during the 3rd quarter. State of Wyoming now owns 3,301 shares of the company’s stock valued at $227,000 after acquiring an additional 240 shares during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 1.9%

Shares of NYSE BN opened at $47.77 on Wednesday. The stock has a market capitalization of $118.32 billion, a price-to-earnings ratio of 132.69 and a beta of 1.57. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.56. The firm’s 50-day moving average price is $46.52 and its 200-day moving average price is $45.55. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last released 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. Brookfield had a return on equity of 3.92% and a net margin of 1.34%.The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. On average, equities research analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid a dividend of $0.06 per share. 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 dividend payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank Of Canada set a $58.00 price target on shares of Brookfield and gave the company an “outperform” rating in a report on Monday, January 26th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $49.00 price target (up previously from $46.00) on shares of Brookfield in a research note on Wednesday, December 17th. National Bankshares raised their price target on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, TD Securities upped their price objective on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $54.70.

Brookfield Company Profile

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.