Allspring Global Investments Holdings LLC Buys 974 Shares of Brookfield Co. (NYSE:BN)

Allspring Global Investments Holdings LLC raised its stake in shares of Brookfield Co. (NYSE:BN) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 78,682 shares of the company’s stock after purchasing an additional 974 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Brookfield were worth $4,520,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in BN. First Personal Financial Services bought a new position in shares of Brookfield during the third quarter valued at $42,000. FSA Wealth Management LLC bought a new position in Brookfield during the 3rd quarter valued at about $42,000. Prestige Wealth Management Group LLC lifted its holdings in Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after purchasing an additional 500 shares during the last quarter. Continuum Advisory LLC acquired a new position in Brookfield in the third quarter valued at about $55,000. Finally, Pinnacle Bancorp Inc. grew its stake in Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN opened at $60.00 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The business has a 50-day moving average of $58.54 and a 200-day moving average of $54.89. The stock has a market capitalization of $98.76 billion, a price-to-earnings ratio of 199.99 and a beta of 1.57. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, sell-side analysts predict that Brookfield Co. will post 3.9 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.60%. Brookfield’s payout ratio is 106.67%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BN. TD Securities raised their price target on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. CIBC raised their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Scotiabank upped their price target on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. BMO Capital Markets reissued an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Finally, Morgan Stanley began coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.