Brookfield Co. (NYSE:BN) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of Brookfield Co. (NYSE:BN) by 124.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,262,139 shares of the company’s stock after acquiring an additional 698,810 shares during the period. Hsbc Holdings PLC owned about 0.08% of Brookfield worth $52,246,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its position in shares of Brookfield by 20.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,599 shares of the company’s stock valued at $1,562,000 after buying an additional 6,394 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Brookfield by 21.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 29,577 shares of the company’s stock valued at $1,229,000 after buying an additional 5,248 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Brookfield by 4,054.0% in the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after buying an additional 1,505,372 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Brookfield by 1.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,763,283 shares of the company’s stock valued at $73,256,000 after buying an additional 26,072 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Brookfield by 57.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 98,684 shares of the company’s stock valued at $4,099,000 after buying an additional 35,938 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Down 0.0 %

Shares of BN stock opened at $52.18 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The firm has a market cap of $85.77 billion, a PE ratio of 85.54 and a beta of 1.53. The company has a 50-day moving average of $47.34 and a two-hundred day moving average of $43.78. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $52.48.

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

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s payout ratio is 52.46%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. BMO Capital Markets upped their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Scotiabank upped their price objective on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.59.

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.