The Manufacturers Life Insurance Company Sells 1,258,689 Shares of Brookfield Corporation $BN

The Manufacturers Life Insurance Company cut its stake in Brookfield Corporation (NYSE:BN) by 11.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,832,789 shares of the company’s stock after selling 1,258,689 shares during the period. The Manufacturers Life Insurance Company’s holdings in Brookfield were worth $398,036,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. MCF Advisors LLC bought a new position in shares of Brookfield in the 4th quarter worth approximately $26,000. Quattro Advisors LLC purchased a new stake in Brookfield in the fourth quarter worth $26,000. Exchange Traded Concepts LLC bought a new position in Brookfield in the fourth quarter worth $27,000. Truvestments Capital LLC lifted its position in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after buying an additional 213 shares during the period. Finally, New England Capital Financial Advisors LLC boosted its holdings in shares of Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after buying an additional 251 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of NYSE:BN opened at $42.08 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The firm has a market cap of $103.15 billion, a price-to-earnings ratio of 82.52 and a beta of 1.54. The business has a 50-day simple moving average of $44.06 and a two-hundred day simple moving average of $44.26. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56.

Brookfield Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on BN. 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 note on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Scotia boosted their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Finally, Royal Bank Of Canada cut their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price 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.