Brookfield Co. (NYSE:BN) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. grew its position in shares of Brookfield Co. (NYSE:BN - Free Report) by 35.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 225,934 shares of the company's stock after acquiring an additional 59,575 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Brookfield were worth $12,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compass Planning Associates Inc bought a new position in shares of Brookfield during the 4th quarter valued at approximately $30,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Brookfield in the fourth quarter worth $48,000. Transce3nd LLC bought a new stake in Brookfield in the fourth quarter worth $51,000. Promus Capital LLC bought a new stake in Brookfield in the fourth quarter worth $55,000. Finally, Pinnacle Bancorp Inc. lifted its position in Brookfield by 29.5% in 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. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Morgan Stanley lowered their price target on Brookfield from $83.00 to $61.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Scotiabank lowered their price target on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. CIBC reduced their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research note on Friday. Finally, TD Securities reduced their price objective on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Brookfield Stock Up 3.6%

BN stock traded up $2.02 during trading on Monday, reaching $58.72. 2,195,698 shares of the company traded hands, compared to its average volume of 2,739,055. Brookfield Co. has a 12 month low of $39.97 and a 12 month high of $62.78. The business has a 50 day simple moving average of $51.71 and a 200 day simple moving average of $55.89. The company has a market capitalization of $96.74 billion, a price-to-earnings ratio of 195.74 and a beta of 1.64. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. On average, equities research analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. Brookfield's payout ratio is 128.57%.

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.