Atlantic Union Bankshares Corp Trims Position in Brookfield Co. (NYSE:BN)

Atlantic Union Bankshares Corp decreased its holdings in Brookfield Co. (NYSE:BN) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,121 shares of the company’s stock after selling 1,554 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Brookfield were worth $633,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Epiq Partners LLC lifted its position in shares of Brookfield by 4.6% in the 1st quarter. Epiq Partners LLC now owns 78,630 shares of the company’s stock worth $3,292,000 after purchasing an additional 3,460 shares during the period. GoalVest Advisory LLC purchased a new stake in Brookfield in the first quarter worth about $397,000. Chemistry Wealth Management LLC grew its holdings in shares of Brookfield by 5.4% during the 1st quarter. Chemistry Wealth Management LLC now owns 210,382 shares of the company’s stock worth $8,809,000 after acquiring an additional 10,729 shares during the period. Parkside Investments LLC raised its position in shares of Brookfield by 0.8% in the 1st quarter. Parkside Investments LLC now owns 212,109 shares of the company’s stock worth $8,881,000 after acquiring an additional 1,694 shares in the last quarter. Finally, Gateway Investment Advisers LLC raised its position in shares of Brookfield by 1.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 214,842 shares of the company’s stock worth $8,995,000 after acquiring an additional 2,733 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 0.0 %

Shares of BN traded down $0.02 on Friday, hitting $41.54. 1,549,328 shares of the stock traded hands, compared to its average volume of 3,184,924. Brookfield Co. has a one year low of $28.84 and a one year high of $45.11. The company has a market capitalization of $68.28 billion, a PE ratio of 68.10 and a beta of 1.51. The business has a 50 day simple moving average of $42.43 and a 200 day simple moving average of $40.96. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $22.91 billion during the quarter. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. During the same period in the previous year, the business posted $0.72 EPS. As a group, equities analysts forecast that Brookfield Co. will post 3.35 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, June 13th. Brookfield’s dividend payout ratio is currently 52.46%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BN shares. Scotiabank reduced their price target on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research note on Friday, May 10th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $46.00 price target (up from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Finally, Royal Bank of Canada cut their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.10.

Insider Activity

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

About Brookfield

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.