Summit Trail Advisors LLC Sells 688 Shares of Brookfield Co. (NYSE:BN)

Summit Trail Advisors LLC reduced its position in Brookfield Co. (NYSE:BN) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,496 shares of the company’s stock after selling 688 shares during the period. Summit Trail Advisors LLC’s holdings in Brookfield were worth $1,225,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BN. Blacksheep Fund Management Ltd acquired a new position in shares of Brookfield in the 4th quarter valued at $101,800,000. American National Bank & Trust Co. VA acquired a new stake in Brookfield during the first quarter worth $5,716,000. M&G Plc acquired a new position in Brookfield in the first quarter valued at about $111,222,000. Cetera Investment Advisers boosted its position in shares of Brookfield by 1,022.6% during the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after purchasing an additional 248,506 shares during the period. Finally, Gold Investment Management Ltd. acquired a new position in shares of Brookfield in the fourth quarter valued at approximately $4,473,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN opened at $52.18 on Friday. The business’s fifty day moving average price is $47.46 and its two-hundred day moving average price is $43.87. The firm has a market capitalization of $85.77 billion, a PE ratio of 85.54 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $52.48.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the business posted $0.75 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts expect that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. Brookfield’s dividend payout ratio is 52.46%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BN. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Scotiabank upped their price objective on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, BMO Capital Markets boosted their target price on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.59.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.