Cresset Asset Management LLC Has $3.25 Million Stock Holdings in Brookfield Co. (NYSE:BN)

Cresset Asset Management LLC lessened its stake in shares of Brookfield Co. (NYSE:BN - Free Report) by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,576 shares of the company's stock after selling 8,223 shares during the quarter. Cresset Asset Management LLC's holdings in Brookfield were worth $3,251,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in Brookfield in the 4th quarter valued at $973,591,000. Baillie Gifford & Co. lifted its stake in shares of Brookfield by 809.5% during the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock valued at $211,159,000 after acquiring an additional 3,271,403 shares during the period. Regents of The University of California acquired a new stake in Brookfield in the fourth quarter worth about $154,140,000. Geode Capital Management LLC raised its holdings in Brookfield by 32.0% during the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock worth $460,489,000 after purchasing an additional 1,930,218 shares during the last quarter. Finally, Capital World Investors raised its holdings in Brookfield by 3.1% during the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after purchasing an additional 1,782,034 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Scotiabank lowered their price target on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. TD Securities dropped their target price on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Morgan Stanley dropped their price objective on Brookfield from $83.00 to $61.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, CIBC cut 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Brookfield Trading Up 1.2%

BN stock traded up $0.70 during midday trading on Tuesday, hitting $59.40. 2,687,297 shares of the company's stock were exchanged, compared to its average volume of 2,738,903. Brookfield Co. has a one year low of $39.97 and a one year high of $62.78. The stock's fifty day moving average price is $51.78 and its 200-day moving average price is $55.92. The company has a market cap of $97.86 billion, a PE ratio of 198.01 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 data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Research analysts predict that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.09 per share. The ex-dividend date 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%.

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.