Wellington Management Group LLP reduced its stake in Brookfield Co. (NYSE:BN - Free Report) by 13.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,012,718 shares of the company's stock after selling 158,213 shares during the quarter. Wellington Management Group LLP owned about 0.06% of Brookfield worth $58,180,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Strategic Wealth Partners Ltd. raised its position in Brookfield by 1.7% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock worth $618,000 after buying an additional 170 shares during the last quarter. Haverford Trust Co raised its position in Brookfield by 4.7% during the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company's stock worth $247,000 after buying an additional 192 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in Brookfield by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after buying an additional 197 shares during the last quarter. Pittenger & Anderson Inc. raised its position in Brookfield by 14.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company's stock worth $90,000 after buying an additional 203 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Brookfield by 5.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company's stock worth $250,000 after buying an additional 240 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on BN shares. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. CIBC reduced their price target on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. Scotiabank cut their target price on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Wall Street Zen lowered shares of Brookfield from a "hold" rating to a "sell" rating in a report on Saturday. Finally, JPMorgan Chase & Co. cut their target price on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and an average price target of $63.00.
View Our Latest Stock Report on Brookfield
Brookfield Price Performance
Brookfield stock traded down $0.06 during trading on Monday, reaching $57.66. The company had a trading volume of 978,396 shares, compared to its average volume of 2,717,021. The firm's 50-day simple moving average is $53.51 and its 200 day simple moving average is $56.16. Brookfield Co. has a 1-year low of $39.97 and a 1-year high of $62.78. The firm has a market capitalization of $94.99 billion, a PE ratio of 192.25 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 released 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. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. As a group, equities research analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal 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. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.62%. Brookfield's dividend payout ratio is currently 128.57%.
Brookfield Company Profile
(
Free Report)
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.
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