Private Advisor Group LLC Trims Stock Position in Brookfield Co. (NYSE:BN)

Private Advisor Group LLC cut its stake in Brookfield Co. (NYSE:BN) by 1.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,780 shares of the company’s stock after selling 204 shares during the period. Private Advisor Group LLC’s holdings in Brookfield were worth $786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after buying an additional 1,063,110 shares during the last quarter. Capital World Investors raised its holdings in shares of Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after buying an additional 2,497,509 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Brookfield by 1.3% in the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after buying an additional 299,029 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of Brookfield by 5.0% in the second quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after buying an additional 269,813 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Brookfield by 3.7% in the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock valued at $134,629,000 after buying an additional 113,241 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank boosted their price target on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities boosted their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada dropped their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.31.

Brookfield Trading Up 0.3 %

Shares of BN opened at $53.14 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm’s 50-day moving average is $51.82 and its two-hundred day moving average is $46.46. Brookfield Co. has a twelve month low of $31.05 and a twelve month high of $56.83. The firm has a market capitalization of $87.48 billion, a P/E ratio of 91.62 and a beta of 1.54.

Brookfield (NYSE:BN) last issued 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. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, research analysts predict that Brookfield Co. will post 3.81 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is presently 55.17%.

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.