Lansforsakringar Fondforvaltning AB publ Buys Shares of 295,354 Brookfield Co. (NYSE:BN)

Lansforsakringar Fondforvaltning AB publ bought a new stake in Brookfield Co. (NYSE:BN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 295,354 shares of the company's stock, valued at approximately $16,959,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Brookfield during the fourth quarter valued at about $973,591,000. Baillie Gifford & Co. boosted its position in 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 buying an additional 3,271,403 shares during the period. Regents of The University of California purchased a new stake in Brookfield during the fourth quarter valued at about $154,140,000. Geode Capital Management LLC boosted its position in Brookfield by 32.0% during the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock valued at $460,489,000 after buying an additional 1,930,218 shares during the period. Finally, Capital World Investors boosted its position in Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company's stock valued at $3,390,786,000 after buying an additional 1,782,034 shares during the period. Institutional investors own 61.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BN. Wall Street Zen lowered shares of Brookfield from a "hold" rating to a "sell" rating in a research report on Saturday. 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 report on Monday, May 5th. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. CIBC dropped their target price on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. Finally, Scotiabank dropped 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Brookfield currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Brookfield Trading Up 0.2%

BN stock traded up $0.09 during trading on Friday, reaching $57.80. The company had a trading volume of 1,661,498 shares, compared to its average volume of 2,723,724. Brookfield Co. has a 52 week low of $39.97 and a 52 week high of $62.78. The company has a market cap of $95.23 billion, a P/E ratio of 192.67 and a beta of 1.64. The business has a 50 day moving average of $53.51 and a 200 day moving average of $56.16. 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 (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, topping 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, sell-side analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, June 13th. Brookfield's dividend payout ratio is 128.57%.

About Brookfield

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.