Sequoia Financial Advisors LLC Boosts Stock Holdings in Brookfield Corporation $BN

Sequoia Financial Advisors LLC grew its stake in shares of Brookfield Corporation (NYSE:BN) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,212,503 shares of the company’s stock after buying an additional 16,850 shares during the period. Sequoia Financial Advisors LLC’s holdings in Brookfield were worth $49,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Carmel Capital Partners LLC raised its position in shares of Brookfield by 5.2% in the 1st quarter. Carmel Capital Partners LLC now owns 72,520 shares of the company’s stock worth $2,935,000 after buying an additional 3,607 shares during the period. Meadow Creek Wealth Advisors LLC increased its stake in Brookfield by 2.3% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock worth $417,000 after acquiring an additional 234 shares during the last quarter. First Horizon Corp raised its holdings in shares of Brookfield by 71.0% in the 1st quarter. First Horizon Corp now owns 1,553 shares of the company’s stock worth $63,000 after purchasing an additional 645 shares during the period. Sather Financial Group Inc raised its holdings in shares of Brookfield by 0.4% in the 1st quarter. Sather Financial Group Inc now owns 2,127,876 shares of the company’s stock worth $86,115,000 after purchasing an additional 8,477 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in shares of Brookfield by 17.0% in the 1st quarter. QRG Capital Management Inc. now owns 9,099 shares of the company’s stock valued at $368,000 after purchasing an additional 1,322 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Scotia increased their target price on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. TD lifted their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. TD Securities reiterated a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research note on Tuesday, May 19th. Morgan Stanley reissued an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, National Bank Financial raised their target price on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note 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 data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Stock Up 1.5%

NYSE BN traded up $0.66 on Friday, reaching $43.74. The company had a trading volume of 3,127,401 shares, compared to its average volume of 3,342,162. The firm has a market capitalization of $107.23 billion, a PE ratio of 85.77 and a beta of 1.54. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The firm has a 50-day moving average of $44.78 and a 200-day moving average of $44.59. 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 Dividend Announcement

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

About Brookfield

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.