Norges Bank Acquires Shares of 16,956,500 Brookfield Co. (NYSE:BN)

Norges Bank purchased a new stake in Brookfield Co. (NYSE:BN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,956,500 shares of the company's stock, valued at approximately $973,591,000. Norges Bank owned approximately 1.03% of Brookfield at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Haverford Trust Co raised its stake in Brookfield by 4.7% during the fourth quarter. Haverford Trust Co now owns 4,308 shares of the company's stock worth $247,000 after purchasing an additional 192 shares during the period. Pittenger & Anderson Inc. raised its position in shares of Brookfield by 14.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company's stock valued at $90,000 after buying an additional 203 shares during the period. Pinnacle Bancorp Inc. lifted its holdings in Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company's stock valued at $56,000 after acquiring an additional 221 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in Brookfield by 5.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company's stock worth $250,000 after acquiring an additional 240 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Brookfield by 10.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,579 shares of the company's stock worth $148,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

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Analyst Ratings Changes

A number of research firms have recently weighed in on BN. CIBC increased their price target on Brookfield from $68.00 to $70.00 and gave the stock an "outperformer" rating in a report on Thursday, January 23rd. Morgan Stanley assumed coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an "overweight" rating and a $80.00 price target for the company. TD Securities upped their price objective on shares of Brookfield from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Scotiabank increased their price objective 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 research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.00.

Brookfield Stock Up 1.9 %

Shares of BN stock traded up $1.00 during trading on Tuesday, reaching $53.41. The company's stock had a trading volume of 1,336,320 shares, compared to its average volume of 2,716,406. The company has a market capitalization of $87.95 billion, a price-to-earnings ratio of 177.97 and a beta of 1.65. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. 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 stock's 50-day moving average price is $56.72 and its 200 day moving average price is $56.29.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping 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%. On average, research analysts anticipate that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Friday, March 14th. Brookfield's dividend payout ratio is currently 120.00%.

About Brookfield

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.