Allspring Global Investments Holdings LLC Sells 10,247 Shares of Brookfield Co. (NYSE:BN)

Allspring Global Investments Holdings LLC lowered its position in Brookfield Co. (NYSE:BN) by 11.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 77,708 shares of the company’s stock after selling 10,247 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Brookfield were worth $4,130,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BN. Nicholas Hoffman & Company LLC. raised its position in shares of Brookfield by 3.9% during the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after buying an additional 257 shares during the last quarter. Blue Trust Inc. increased its holdings in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Mckinley Capital Management LLC lifted its stake in Brookfield by 0.9% in the 1st quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock worth $1,367,000 after purchasing an additional 283 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares in the last quarter. Finally, Pembroke Management LTD boosted its holdings in shares of Brookfield by 4.4% during the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BN shares. Royal Bank of Canada decreased their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Scotiabank upped their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. BMO Capital Markets boosted their price target on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Stock Performance

NYSE:BN opened at $54.69 on Tuesday. The firm has a market capitalization of $89.89 billion, a PE ratio of 89.66 and a beta of 1.54. The stock’s fifty day moving average is $51.34 and its 200 day moving average is $46.16. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $56.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

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

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s payout ratio is currently 52.46%.

Brookfield Company 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.