EdgePoint Investment Group Inc. Sells 28,502 Shares of Brookfield Corporation $BN

EdgePoint Investment Group Inc. cut its stake in shares of Brookfield Corporation (NYSE:BN) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 541,974 shares of the company’s stock after selling 28,502 shares during the period. Brookfield accounts for about 0.3% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 28th biggest holding. EdgePoint Investment Group Inc.’s holdings in Brookfield were worth $37,124,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Brookfield during the 2nd quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after buying an additional 330 shares during the last quarter. First Horizon Corp bought a new position in shares of Brookfield in the third quarter valued at $40,000. Versant Capital Management Inc grew its stake in shares of Brookfield by 507.5% in the third quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $45,000 after buying an additional 543 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in Brookfield during the second quarter worth $51,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on BN shares. BMO Capital Markets upped their price target on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Royal Bank Of Canada raised their target price on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.59.

Brookfield Trading Down 1.0%

BN stock opened at $38.38 on Friday. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.56. The stock has a market cap of $94.01 billion, a price-to-earnings ratio of 77.79 and a beta of 1.58. The company has a fifty day moving average price of $45.60 and a two-hundred day moving average price of $45.59. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. Equities analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.07 dividend. This is an increase from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is currently 48.98%.

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.