Brookfield Co. (NYSE:BN) Shares Sold by Select Equity Group L.P.

Select Equity Group L.P. trimmed its stake in Brookfield Co. (NYSE:BN - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,097,315 shares of the company's stock after selling 1,625,964 shares during the quarter. Brookfield makes up 1.8% of Select Equity Group L.P.'s portfolio, making the stock its 19th biggest holding. Select Equity Group L.P. owned approximately 0.49% of Brookfield worth $465,165,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Brookfield by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock worth $3,443,129,000 after acquiring an additional 974,533 shares during the last quarter. Capital World Investors increased its stake in Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after acquiring an additional 1,782,034 shares during the last quarter. FIL Ltd increased its stake in Brookfield by 8.8% during the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company's stock worth $1,169,912,000 after acquiring an additional 1,640,903 shares during the last quarter. Norges Bank acquired a new stake in Brookfield during the fourth quarter worth about $973,591,000. Finally, CIBC Asset Management Inc increased its stake in Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company's stock worth $814,585,000 after acquiring an additional 823,428 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Performance

Shares of BN traded down $0.34 during mid-day trading on Tuesday, hitting $59.03. The stock had a trading volume of 2,118,509 shares, compared to its average volume of 2,729,934. The company has a market cap of $97.25 billion, a PE ratio of 196.77 and a beta of 1.64. The company's fifty day simple moving average is $52.64 and its two-hundred day simple moving average is $56.13. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a fifty-two week low of $39.97 and a fifty-two week high of $62.78.

Brookfield (NYSE:BN - Get Free Report) last issued its 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. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, equities analysts expect that Brookfield Co. will post 3.85 earnings per share for the current 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 issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, June 13th. Brookfield's dividend payout ratio (DPR) is 128.57%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BN. Scotiabank lowered their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Morgan Stanley lowered their target price on Brookfield from $83.00 to $61.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. TD Securities dropped their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, CIBC reduced their price target on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $63.00.

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.