Brookfield Corporation $BN Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lessened its position in Brookfield Corporation (NYSE:BN) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,583,710 shares of the company’s stock after selling 65,561 shares during the period. Brookfield comprises 1.0% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 17th largest holding. Horizon Kinetics Asset Management LLC owned approximately 0.06% of Brookfield worth $72,676,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Marks Group Wealth Management Inc increased its position in Brookfield by 24.8% during the fourth quarter. Marks Group Wealth Management Inc now owns 19,385 shares of the company’s stock worth $890,000 after purchasing an additional 3,854 shares during the last quarter. Everett Harris & Co. CA increased its position in Brookfield by 50.0% during the fourth quarter. Everett Harris & Co. CA now owns 54,342 shares of the company’s stock worth $2,494,000 after purchasing an additional 18,114 shares during the last quarter. Commonwealth Retirement Investments LLC acquired a new position in Brookfield during the fourth quarter worth approximately $44,000. TIAA Trust National Association increased its position in Brookfield by 48.2% during the fourth quarter. TIAA Trust National Association now owns 30,759 shares of the company’s stock worth $1,412,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Brookfield by 70.5% during the fourth quarter. Cerity Partners LLC now owns 185,816 shares of the company’s stock worth $8,527,000 after purchasing an additional 76,812 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. National Bank Financial upped their price target on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Royal Bank Of Canada dropped their price target on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Price Performance

BN opened at $45.50 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a 50 day moving average of $44.62 and a two-hundred day moving average of $44.91. The company has a market cap of $111.51 billion, a P/E ratio of 89.22 and a beta of 1.53.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield’s payout ratio is currently 54.90%.

Brookfield Company 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.