Sequoia Financial Advisors LLC Grows Stake in Brookfield Corporation $BN

Sequoia Financial Advisors LLC boosted its position in shares of Brookfield Corporation (NYSE:BN) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,212,503 shares of the company’s stock after purchasing an additional 16,850 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Brookfield were worth $49,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. MCF Advisors LLC acquired a new stake in Brookfield in the 4th quarter valued at about $26,000. Quattro Advisors LLC acquired a new position in Brookfield during the fourth quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of Brookfield in the fourth quarter valued at about $27,000. Truvestments Capital LLC lifted its holdings in shares of Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Finally, Hilltop National Bank grew its position in shares of Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BN. Royal Bank Of Canada cut their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. National Bank Financial upped their price objective on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Finally, TD Securities reiterated a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Trading Up 1.5%

Shares of Brookfield stock traded up $0.66 during trading hours on Friday, reaching $43.74. 3,127,401 shares of the company’s stock were exchanged, compared to its average volume of 3,342,162. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a fifty day moving average of $44.78 and a 200-day moving average of $44.59. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $107.23 billion, a price-to-earnings ratio of 85.77 and a beta of 1.54.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid 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 (DPR) is presently 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.