Brookfield Co. (NYSE:BN) Stake Reduced by First Pacific Financial

First Pacific Financial lowered its holdings in Brookfield Co. (NYSE:BN) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,508 shares of the company’s stock after selling 368 shares during the period. First Pacific Financial’s holdings in Brookfield were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BN. TIAA FSB purchased a new position in Brookfield in the fourth quarter valued at about $799,000. Triasima Portfolio Management inc. bought a new position in Brookfield in the 4th quarter worth approximately $37,672,000. Victory Capital Management Inc. acquired a new stake in Brookfield in the 4th quarter worth $1,548,000. American Century Companies Inc. acquired a new stake in Brookfield during the fourth quarter worth about $1,483,000. Finally, Barclays PLC acquired a new stake in shares of Brookfield during the 4th quarter worth approximately $748,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $2.20, for a total value of $8,630,129.20. Following the completion of the transaction, the insider now directly owns 23,352,826 shares in the company, valued at $51,376,217.20. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Brookfield Stock Performance

Shares of BN stock opened at $41.58 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17. The stock has a market capitalization of $68.21 billion, a P/E ratio of 67.06 and a beta of 1.49. The firm’s 50 day moving average is $40.76 and its 200 day moving average is $36.87.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The firm had revenue of $24.52 billion for the quarter, compared to analyst estimates of $1.15 billion. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 EPS. On average, sell-side analysts anticipate that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $0.32 annualized dividend and a yield of 0.77%. This is a boost from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio (DPR) is 51.61%.

Analysts Set New Price Targets

Several brokerages have weighed in on BN. TD Securities upped their price objective on shares of Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research note on Sunday, February 11th. CIBC upped their target price on shares of Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. BMO Capital Markets raised their price objective on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Royal Bank of Canada upped their price target on Brookfield from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Finally, TheStreet raised Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.45.

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.