M&G Plc Sells 884,032 Shares of Brookfield Co. (NYSE:BN)

M&G PLC lowered its stake in Brookfield Co. (NYSE:BN - Free Report) by 35.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,620,721 shares of the company's stock after selling 884,032 shares during the quarter. M&G PLC owned approximately 0.10% of Brookfield worth $85,898,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BN. Blue Trust Inc. increased its holdings in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company's stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new position in Brookfield in the 2nd quarter valued at approximately $31,000. Family Firm Inc. bought a new position in Brookfield in the 2nd quarter valued at approximately $36,000. Nisa Investment Advisors LLC boosted its position in Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company's stock worth $48,000 after buying an additional 450 shares during the period. Finally, Asset Dedication LLC bought a new stake in Brookfield during the 2nd quarter worth approximately $56,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Up 0.9 %

NYSE BN traded up $0.54 during trading hours on Thursday, hitting $57.52. 1,163,326 shares of the company's stock were exchanged, compared to its average volume of 2,820,529. Brookfield Co. has a 1-year low of $31.43 and a 1-year high of $57.78. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The stock has a 50-day simple moving average of $52.18 and a 200 day simple moving average of $46.86. The firm has a market cap of $94.70 billion, a price-to-earnings ratio of 99.17 and a beta of 1.53.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. On average, equities analysts forecast that Brookfield Co. will post 3.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. TD Securities lifted their target price on Brookfield from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Monday, August 12th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. BMO Capital Markets lifted their price objective on Brookfield from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $53.31.

Brookfield Company 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.