Private Management Group Inc. Sells 66,340 Shares of Brookfield Co. (NYSE:BN)

Private Management Group Inc. decreased its holdings in Brookfield Co. (NYSE:BN - Free Report) by 10.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 594,125 shares of the company's stock after selling 66,340 shares during the quarter. Brookfield accounts for approximately 1.1% of Private Management Group Inc.'s holdings, making the stock its 27th largest position. Private Management Group Inc.'s holdings in Brookfield were worth $31,578,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BN. Blue Trust Inc. increased its stake in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company's stock valued at $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC acquired a new position in shares of Brookfield during the second quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in shares of Brookfield during the second quarter valued at approximately $36,000. Nisa Investment Advisors LLC raised its holdings in Brookfield by 63.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company's stock worth $48,000 after purchasing an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its position in Brookfield by 100.3% in the first quarter. Pittenger & Anderson Inc. now owns 1,238 shares of the company's stock worth $52,000 after purchasing an additional 620 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Up 0.3 %

Shares of NYSE:BN traded up $0.14 during mid-day trading on Friday, hitting $53.14. The stock had a trading volume of 1,174,246 shares, compared to its average volume of 2,835,617. The company's 50 day moving average is $51.82 and its 200-day moving average is $46.46. Brookfield Co. has a 12-month low of $31.05 and a 12-month high of $56.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The company has a market cap of $87.48 billion, a PE ratio of 91.62 and a beta of 1.54.

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

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Brookfield's dividend payout ratio (DPR) is currently 55.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD Securities boosted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. BMO Capital Markets upped their price target on shares of Brookfield from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, September 11th. Scotiabank lifted their price objective on shares of Brookfield from $51.25 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday. Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Finally, 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 research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Brookfield has an average rating of "Moderate Buy" and an average 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.