Brookfield Co. (NYSE:BN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its holdings in shares of Brookfield Co. (NYSE:BN) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,985,891 shares of the company’s stock after selling 86,368 shares during the period. Corient Private Wealth LLC owned about 0.18% of Brookfield worth $119,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased 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 buying an additional 1,016,222 shares in the last quarter. Bank of Nova Scotia boosted its position 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 purchasing an additional 242,567 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Brookfield by 21.0% in the third 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 during the period. Norges Bank acquired a new position in shares of Brookfield during the 4th quarter worth approximately $614,104,000. Finally, DAVENPORT & Co LLC lifted its position in shares of Brookfield by 8.3% during the 4th quarter. DAVENPORT & Co LLC now owns 10,335,443 shares of the company’s stock valued at $416,260,000 after buying an additional 795,309 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was 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 directly owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Brookfield Trading Down 0.2 %

Brookfield stock traded down $0.07 during midday trading on Tuesday, hitting $44.74. 382,856 shares of the stock were exchanged, compared to its average volume of 2,800,653. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $45.11. The stock has a market capitalization of $73.47 billion, a price-to-earnings ratio of 73.46 and a beta of 1.48. The stock’s 50-day simple moving average is $41.50 and its 200 day simple moving average is $39.42. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $22.91 billion during the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same period last year, the business earned $0.72 EPS. On average, equities analysts anticipate that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.72%. Brookfield’s dividend payout ratio is presently 52.46%.

Analysts Set New Price Targets

BN has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price objective on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. BMO Capital Markets raised their target price on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $46.00 price target (up from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Finally, Scotiabank decreased their price objective on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $48.10.

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.