Mackenzie Financial Corp Sells 663,383 Shares of Brookfield Co. (NYSE:BN)

Mackenzie Financial Corp cut its stake in shares of Brookfield Co. (NYSE:BN - Free Report) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,739,530 shares of the company's stock after selling 663,383 shares during the period. Brookfield comprises about 1.2% of Mackenzie Financial Corp's investment portfolio, making the stock its 14th biggest position. Mackenzie Financial Corp owned approximately 1.02% of Brookfield worth $961,098,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new position in Brookfield during the fourth quarter valued at $29,000. Compass Planning Associates Inc bought a new stake in Brookfield during the fourth quarter valued at about $30,000. Sunbelt Securities Inc. raised its holdings in Brookfield by 164.0% during the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company's stock valued at $42,000 after acquiring an additional 451 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Brookfield during the fourth quarter valued at about $48,000. Finally, Transce3nd LLC bought a new stake in Brookfield during the fourth quarter valued at about $51,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BN shares. Scotiabank cut 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 reiterated an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. CIBC dropped their price target on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. dropped 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. Finally, TD Securities dropped their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.00.

Brookfield Trading Up 1.8%

Shares of NYSE BN traded up $1.03 during trading hours on Tuesday, reaching $58.12. The stock had a trading volume of 1,262,370 shares, compared to its average volume of 2,728,934. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The firm has a market cap of $95.75 billion, a price-to-earnings ratio of 193.74 and a beta of 1.64. The business's fifty day moving average price is $53.25 and its two-hundred day moving average price is $56.17. Brookfield Co. has a 52-week low of $39.97 and a 52-week high of $62.78.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results 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. The firm 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%. Analysts expect that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently disclosed 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 is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.62%. Brookfield's dividend payout ratio is presently 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.