BROOKFIELD Corp ON Reduces Position in Brookfield Co. (NYSE:BN)

BROOKFIELD Corp ON lowered its holdings in Brookfield Co. (NYSE:BN - Free Report) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,965,748 shares of the company's stock after selling 2,000,000 shares during the period. Brookfield makes up about 10.8% of BROOKFIELD Corp ON's portfolio, making the stock its 2nd largest holding. BROOKFIELD Corp ON owned approximately 1.88% of Brookfield worth $1,778,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BN. Captrust Financial Advisors increased its position in shares of Brookfield by 0.8% in the fourth quarter. Captrust Financial Advisors now owns 124,168 shares of the company's stock worth $7,133,000 after purchasing an additional 1,030 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Brookfield during the 4th quarter worth approximately $273,000. Balyasny Asset Management L.P. increased its stake in Brookfield by 35.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 225,934 shares of the company's stock valued at $12,981,000 after acquiring an additional 59,575 shares during the last quarter. Baird Financial Group Inc. raised its position in Brookfield by 13.2% during the fourth quarter. Baird Financial Group Inc. now owns 152,848 shares of the company's stock valued at $8,781,000 after purchasing an additional 17,825 shares in the last quarter. Finally, Bamco Inc. NY lifted its stake in Brookfield by 22.7% during the fourth quarter. Bamco Inc. NY now owns 2,391,691 shares of the company's stock worth $137,403,000 after purchasing an additional 442,219 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BN shares. Scotiabank dropped their price objective 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. 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. TD Securities decreased their target price on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Monday. CIBC dropped their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.00.

Brookfield Trading Down 1.5 %

NYSE BN traded down $0.88 during mid-day trading on Friday, reaching $56.73. 2,381,674 shares of the stock were exchanged, compared to its average volume of 2,747,128. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The stock has a market cap of $93.46 billion, a P/E ratio of 189.11 and a beta of 1.64. The stock has a 50 day simple moving average of $51.71 and a 200-day simple moving average of $55.86. Brookfield Co. has a one year low of $39.97 and a one year high of $62.78.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, analysts anticipate that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.63%. Brookfield's dividend payout ratio is presently 120.00%.

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.