Bank of Nova Scotia reduced its stake in shares of Brookfield Co. (NYSE:BN - Free Report) by 17.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,730,863 shares of the company's stock after selling 2,469,604 shares during the quarter. Brookfield comprises about 1.2% of Bank of Nova Scotia's investment portfolio, making the stock its 15th biggest position. Bank of Nova Scotia owned 0.71% of Brookfield worth $674,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BN. Compass Planning Associates Inc purchased a new position in shares of Brookfield during the 4th quarter worth about $30,000. Prestige Wealth Management Group LLC boosted its position in shares of Brookfield by 137.0% during the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company's stock valued at $46,000 after buying an additional 500 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Brookfield in the fourth quarter worth approximately $48,000. Continuum Advisory LLC bought a new stake in shares of Brookfield during the 3rd quarter worth approximately $55,000. Finally, Promus Capital LLC bought a new position in Brookfield in the 4th quarter valued at $55,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.
Brookfield Stock Up 3.6 %
Shares of BN traded up $1.67 during trading hours on Friday, hitting $48.60. The company had a trading volume of 4,065,869 shares, compared to its average volume of 2,821,710. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $80.03 billion, a PE ratio of 162.01 and a beta of 1.60. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The company's fifty day moving average price is $54.22 and its two-hundred day moving average price is $56.05.
Brookfield (NYSE:BN - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping 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, equities analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. Brookfield's payout ratio is 120.00%.
Analysts Set New Price Targets
Several research firms have recently weighed in on BN. Scotiabank decreased their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. Morgan Stanley started coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an "overweight" rating and a $80.00 price objective for the company. TD Securities lifted their price target on shares of Brookfield from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, CIBC increased their price objective on Brookfield from $68.00 to $70.00 and gave the stock an "outperformer" rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.63.
Get Our Latest Report on BN
About Brookfield
(
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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