Ameriprise Financial Inc. Sells 493,713 Shares of Brookfield Co. (NYSE:BN)

Ameriprise Financial Inc. lowered its stake in shares of Brookfield Co. (NYSE:BN - Free Report) by 19.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,108,535 shares of the company's stock after selling 493,713 shares during the period. Ameriprise Financial Inc. owned approximately 0.13% of Brookfield worth $122,919,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Compass Planning Associates Inc purchased a new position in shares of Brookfield in the 4th quarter worth approximately $30,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Brookfield in the 4th quarter worth approximately $48,000. Transce3nd LLC bought a new stake in Brookfield during the 4th quarter valued at $51,000. Promus Capital LLC bought a new stake in Brookfield during the 4th quarter valued at $55,000. Finally, Pinnacle Bancorp Inc. raised its holdings in Brookfield by 29.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company's stock valued at $56,000 after acquiring an additional 221 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. CIBC lowered their target price on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a report on Friday. Scotiabank decreased their price target on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. TD Securities decreased their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley decreased their price target on shares of Brookfield from $83.00 to $61.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.00.

Brookfield Trading Up 3.2%

NYSE BN traded up $1.84 during trading on Monday, hitting $58.54. 1,531,043 shares of the company's stock traded hands, compared to its average volume of 2,736,639. The firm has a market cap of $96.44 billion, a P/E ratio of 195.06 and a beta of 1.64. The stock has a fifty day moving average of $51.71 and a two-hundred day moving average of $55.89. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. Brookfield Co. has a 12-month low of $39.97 and a 12-month high of $62.78.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, sell-side analysts expect that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

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

Brookfield Company 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.