Permanent Capital Management LP Takes Position in Brookfield Co. (NYSE:BN)

Permanent Capital Management LP acquired a new position in Brookfield Co. (NYSE:BN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,919 shares of the company's stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BN. Baillie Gifford & Co. lifted its position in Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock valued at $211,159,000 after acquiring an additional 3,271,403 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company's stock valued at $623,783,000 after buying an additional 2,818,716 shares during the last quarter. Regents of The University of California bought a new stake in Brookfield in the 4th quarter worth about $154,140,000. Raymond James Financial Inc. bought a new position in Brookfield during the 4th quarter valued at about $82,795,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company's stock valued at $364,152,000 after acquiring an additional 1,301,072 shares during the last quarter. Institutional investors own 61.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BN. CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an "outperformer" rating in a research report on Thursday, January 23rd. TD Securities increased their price target on shares of Brookfield from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Scotiabank boosted their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a "sector outperform" rating in a research report on Monday, February 3rd. Morgan Stanley started coverage on Brookfield in a report on Thursday, January 23rd. They issued an "overweight" rating and a $80.00 target price on the stock. Finally, BMO Capital Markets restated an "outperform" rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $64.00.

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Brookfield Price Performance

Shares of NYSE BN traded up $0.45 during mid-day trading on Wednesday, reaching $50.33. The company's stock had a trading volume of 2,633,186 shares, compared to its average volume of 2,512,245. 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 Co. has a 52 week low of $38.18 and a 52 week high of $62.78. The stock has a fifty day moving average of $57.96 and a two-hundred day moving average of $55.88. The firm has a market capitalization of $82.85 billion, a PE ratio of 167.77 and a beta of 1.65.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. As a group, sell-side analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield's payout ratio is currently 120.00%.

Brookfield 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.