Geode Capital Management LLC increased its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,960,098 shares of the company's stock after purchasing an additional 1,930,218 shares during the quarter. Geode Capital Management LLC owned 0.48% of Brookfield worth $460,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Haverford Trust Co boosted its stake in shares of Brookfield by 4.7% during the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company's stock worth $247,000 after acquiring an additional 192 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Brookfield by 1.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after purchasing an additional 197 shares during the last quarter. Pittenger & Anderson Inc. raised its holdings in shares of Brookfield by 14.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company's stock worth $90,000 after acquiring an additional 203 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company's stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Brookfield by 5.8% in the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company's stock valued at $250,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.
Wall Street Analyst Weigh In
BN has been the subject of a number of recent analyst reports. 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. Scotiabank cut their price target on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a research note on Monday. CIBC upped their target price on Brookfield from $68.00 to $70.00 and gave the stock an "outperformer" rating in a report on Thursday, January 23rd. Finally, Morgan Stanley started coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an "overweight" rating and a $80.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.63.
Read Our Latest Report on Brookfield
Brookfield Stock Performance
BN traded up $5.81 on Wednesday, reaching $50.50. 8,690,378 shares of the stock were exchanged, compared to its average volume of 2,841,635. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The company's 50-day moving average price is $54.66 and its 200 day moving average price is $56.09. The firm has a market capitalization of $83.16 billion, a PE ratio of 168.34 and a beta of 1.60. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78.
Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, sell-side analysts forecast that Brookfield Co. will post 3.85 EPS for the current fiscal year.
Brookfield Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.09 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.71%. Brookfield's payout ratio is currently 120.00%.
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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