CIBC Asset Management Inc lifted its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,178,133 shares of the company's stock after acquiring an additional 823,428 shares during the quarter. Brookfield comprises approximately 2.7% of CIBC Asset Management Inc's holdings, making the stock its 7th biggest holding. CIBC Asset Management Inc owned approximately 0.86% of Brookfield worth $814,585,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Brookfield by 131.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company's stock valued at $24,594,000 after acquiring an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield by 5.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company's stock valued at $9,764,000 after acquiring an additional 9,915 shares in the last quarter. Geode Capital Management LLC increased its stake in Brookfield by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company's stock worth $320,670,000 after buying an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Brookfield by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company's stock worth $189,507,000 after buying an additional 351,231 shares during the period. Finally, Partners Group Holding AG increased its stake in Brookfield by 53.5% during the 3rd quarter. Partners Group Holding AG now owns 409,303 shares of the company's stock worth $21,754,000 after buying an additional 142,603 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.
Brookfield Stock Performance
Shares of NYSE BN traded down $0.52 during midday trading on Thursday, hitting $60.00. The company's stock had a trading volume of 1,397,335 shares, compared to its average volume of 2,220,346. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The firm's fifty day moving average price is $58.54 and its 200-day moving average price is $54.89. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The firm has a market cap of $98.76 billion, a P/E ratio of 199.99 and a beta of 1.57.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, sell-side analysts forecast that Brookfield Co. will post 3.9 EPS for the current fiscal year.
Brookfield Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Friday, March 14th. Brookfield's payout ratio is 106.67%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. CIBC lifted their price target on shares of Brookfield from $68.00 to $70.00 and gave the stock an "outperformer" rating in a research note on Thursday, January 23rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. TD Securities lifted their price target on shares of Brookfield from $74.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Morgan Stanley started coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an "overweight" rating and a $80.00 price target on the stock. Finally, Scotiabank boosted their target price on shares of Brookfield from $69.00 to $71.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $64.00.
Get Our Latest Research Report on BN
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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