Evercore Wealth Management LLC Decreases Holdings in Brookfield Corporation $BN

Evercore Wealth Management LLC trimmed its position in shares of Brookfield Corporation (NYSE:BN) by 37.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,747 shares of the company’s stock after selling 14,750 shares during the quarter. Evercore Wealth Management LLC’s holdings in Brookfield were worth $1,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after acquiring an additional 11,069 shares during the period. NewEdge Advisors LLC grew its stake in shares of Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after purchasing an additional 295 shares during the period. Sivia Capital Partners LLC increased its position in shares of Brookfield by 32.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after purchasing an additional 1,396 shares during the last quarter. AXA S.A. increased its position in shares of Brookfield by 42.2% during the 2nd quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after purchasing an additional 30,703 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Brookfield by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after purchasing an additional 5,821 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BN has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. TD Securities reaffirmed a “buy” rating and set a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. JPMorgan Chase & Co. increased their price target on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. TD increased their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Finally, Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.64.

Brookfield Stock Up 0.9%

BN stock opened at $42.47 on Wednesday. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The stock has a market cap of $104.09 billion, a P/E ratio of 83.26 and a beta of 1.54. The business’s 50-day moving average price is $44.02 and its 200-day moving average price is $44.23.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield’s payout ratio is currently 54.90%.

Brookfield 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.