Brookfield Co. (NYSE:BN) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in shares of Brookfield Co. (NYSE:BN) by 32.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,834 shares of the company’s stock after selling 50,669 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Brookfield were worth $4,396,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Brookfield by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after purchasing an additional 1,063,110 shares in the last quarter. Capital World Investors raised its position in Brookfield by 5.1% in the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after purchasing an additional 2,497,509 shares in the last quarter. TD Asset Management Inc raised its position in Brookfield by 16.2% in the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock valued at $1,069,892,000 after purchasing an additional 3,702,266 shares in the last quarter. 1832 Asset Management L.P. raised its position in Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in Brookfield by 7.3% in the 4th quarter. CIBC Asset Management Inc now owns 16,187,795 shares of the company’s stock valued at $651,399,000 after purchasing an additional 1,098,854 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods increased their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. TD Securities increased their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada dropped their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, BMO Capital Markets increased their price objective on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Trading Up 2.1 %

NYSE:BN opened at $50.41 on Tuesday. The stock’s 50 day moving average price is $46.93 and its 200 day moving average price is $43.62. The company has a market capitalization of $82.86 billion, a PE ratio of 82.64 and a beta of 1.53. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $50.46.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The firm had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. On average, research analysts anticipate that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.63%. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Brookfield Profile

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.