Private Management Group Inc. Sells 60,829 Shares of Brookfield Corporation $BN

Private Management Group Inc. lessened its stake in Brookfield Corporation (NYSE:BN) by 10.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 513,933 shares of the company’s stock after selling 60,829 shares during the quarter. Brookfield makes up approximately 1.0% of Private Management Group Inc.’s portfolio, making the stock its 26th biggest holding. Private Management Group Inc.’s holdings in Brookfield were worth $35,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Brookfield in the second quarter valued at $32,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after buying an additional 330 shares during the last quarter. First Horizon Corp bought a new position in shares of Brookfield during the 3rd quarter worth $40,000. Versant Capital Management Inc increased its holdings in Brookfield by 507.5% in the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after acquiring an additional 543 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in Brookfield in the 2nd quarter worth about $51,000. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Performance

Shares of BN opened at $38.38 on Friday. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.56. The stock’s 50-day simple moving average is $45.60 and its 200 day simple moving average is $45.57. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.21 and a current ratio of 1.32. The stock has a market capitalization of $94.01 billion, a price-to-earnings ratio of 77.79 and a beta of 1.58.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. This is an increase from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. Brookfield’s dividend payout ratio is presently 48.98%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BN. Royal Bank Of Canada upped their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 13th. BMO Capital Markets lifted their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. TD Securities boosted their price target on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Morgan Stanley restated an “overweight” rating and set a $60.00 price target on shares of Brookfield in a research note on Tuesday, February 17th. Finally, National Bank Financial raised their price objective on shares of Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $54.59.

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.