Cross Staff Investments Inc Sells 432 Shares of Brookfield Co. (NYSE:BN)

Cross Staff Investments Inc lowered its stake in Brookfield Co. (NYSE:BN) by 5.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,666 shares of the company’s stock after selling 432 shares during the period. Cross Staff Investments Inc’s holdings in Brookfield were worth $308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Brookfield by 8.9% in the third quarter. Principal Financial Group Inc. now owns 63,734,864 shares of the company’s stock worth $1,993,867,000 after purchasing an additional 5,192,256 shares during the period. Vanguard Group Inc. boosted its holdings in Brookfield by 1.9% in the third quarter. Vanguard Group Inc. now owns 55,429,678 shares of the company’s stock valued at $1,733,286,000 after acquiring an additional 1,016,222 shares during the last quarter. Bank of Nova Scotia raised its stake in Brookfield by 1.2% during the third quarter. Bank of Nova Scotia now owns 20,312,486 shares of the company’s stock worth $635,326,000 after buying an additional 242,567 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield by 21.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,233,299 shares of the company’s stock valued at $602,966,000 after purchasing an additional 3,331,522 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Brookfield by 8.3% in the 4th quarter. DAVENPORT & Co LLC now owns 10,335,443 shares of the company’s stock valued at $416,260,000 after acquiring an additional 795,309 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 1.6 %

Shares of BN traded up $0.65 during midday trading on Friday, hitting $40.88. 1,162,139 shares of the company’s stock traded hands, compared to its average volume of 2,696,579. The firm’s fifty day moving average is $40.79 and its 200-day moving average is $37.88. The stock has a market capitalization of $67.13 billion, a price-to-earnings ratio of 64.87 and a beta of 1.49. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $43.17.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. This is a boost from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s payout ratio is presently 51.61%.

Insider Activity

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BN. Canaccord Genuity Group raised their price objective on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. increased their target price on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 price target on shares of Brookfield in a research report on Friday, April 12th. TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Finally, BMO Capital Markets lifted their price target on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.45.

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.