PensionDanmark Pensionsforsikringsaktieselskab Sells 79,297 Shares of Brookfield Corporation $BN

PensionDanmark Pensionsforsikringsaktieselskab cut its position in Brookfield Corporation (NYSE:BN) by 21.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 282,560 shares of the company’s stock after selling 79,297 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Brookfield were worth $12,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BN. MCF Advisors LLC acquired a new stake in Brookfield in the fourth quarter valued at approximately $26,000. Quattro Advisors LLC bought a new stake in shares of Brookfield during the fourth quarter valued at approximately $26,000. Truvestments Capital LLC raised its position in shares of Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the period. New England Capital Financial Advisors LLC raised its position in shares of Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares during the period. Finally, Entrust Financial LLC bought a new position in shares of Brookfield in the 4th quarter worth $35,000. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Performance

Shares of BN stock opened at $44.11 on Friday. The firm has a 50-day moving average of $43.66 and a 200-day moving average of $44.02. The company has a market cap of $108.14 billion, a P/E ratio of 86.48 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s dividend payout ratio is presently 54.90%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BN shares. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Scotia lifted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Royal Bank Of Canada decreased their target price on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Brookfield has a consensus rating of “Buy” and an average price target of $56.64.

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.