Brookfield Corporation $BN Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lessened its holdings in shares of Brookfield Corporation (NYSE:BN) by 48.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,558 shares of the company’s stock after selling 25,587 shares during the period. Citizens Financial Group Inc. RI’s holdings in Brookfield were worth $1,005,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BN. Fortitude Family Office LLC acquired a new stake in shares of Brookfield in the third quarter valued at $26,000. Silicon Valley Capital Partners bought a new position in shares of Brookfield in the second quarter valued at about $32,000. Kings Path Partners LLC acquired a new position in Brookfield during the 3rd quarter worth about $35,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Brookfield by 203.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock worth $50,000 after buying an additional 824 shares in the last quarter. Finally, Virginia Estate & Retirement Planning Advisors Inc. acquired a new position in Brookfield during the 3rd quarter worth about $46,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 1.1%

BN stock opened at $38.44 on Thursday. The company has a market cap of $94.25 billion, a P/E ratio of 69.89 and a beta of 1.56. Brookfield Corporation has a twelve month low of $35.61 and a twelve month high of $49.56. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The business has a fifty day moving average of $38.30 and a 200-day moving average of $42.67.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. As a group, equities research analysts expect that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield’s payout ratio is currently 50.91%.

Analyst Upgrades and Downgrades

BN has been the subject of several research reports. Scotiabank restated an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Scotia raised their price target on shares of Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average price target of $57.40.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.