Northwestern Mutual Wealth Management Co. Sells 65,777 Shares of Brookfield Corporation $BN

Northwestern Mutual Wealth Management Co. reduced its position in shares of Brookfield Corporation (NYSE:BN) by 31.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,232 shares of the company’s stock after selling 65,777 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Brookfield were worth $6,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BN. Exchange Traded Concepts LLC bought a new stake in Brookfield in the fourth quarter valued at approximately $27,000. Hilltop National Bank boosted its holdings in 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 acquiring an additional 241 shares during the last quarter. New England Capital Financial Advisors LLC boosted its holdings in Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after acquiring an additional 251 shares during the last quarter. Entrust Financial LLC bought a new stake in Brookfield in the fourth quarter valued at approximately $35,000. Finally, ST Germain D J Co. Inc. boosted its holdings in Brookfield by 49.9% in the fourth quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 270 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Brookfield stock opened at $45.59 on Wednesday. The stock has a market capitalization of $111.72 billion, a price-to-earnings ratio of 89.39 and a beta of 1.53. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The stock’s 50 day moving average price is $43.95 and its two-hundred day moving average price is $44.88. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s dividend payout ratio is presently 54.90%.

Wall Street Analyst Weigh In

BN has been the topic of several analyst reports. Scotia upped their target price on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. JPMorgan Chase & Co. upped their target price on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. National Bank Financial upped their target price on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. TD Securities reiterated a “buy” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.82.

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.