Brookfield Co. (NYSE:BN) is Principal Financial Group Inc.'s 5th Largest Position

Principal Financial Group Inc. cut its position in Brookfield Co. (NYSE:BN - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,285,987 shares of the company's stock after selling 6,805,668 shares during the quarter. Brookfield comprises about 1.6% of Principal Financial Group Inc.'s holdings, making the stock its 5th largest position. Principal Financial Group Inc. owned about 3.18% of Brookfield worth $3,003,816,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in shares of Brookfield by 809.5% in the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock valued at $211,159,000 after buying an additional 3,271,403 shares during the period. Blue Zone Wealth Advisors LLC raised its stake in shares of Brookfield by 0.9% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 145,497 shares of the company's stock valued at $8,359,000 after buying an additional 1,293 shares during the period. AMS Capital Ltda bought a new stake in shares of Brookfield in the fourth quarter valued at $5,529,000. Van ECK Associates Corp bought a new stake in shares of Brookfield during the 4th quarter valued at $341,000. Finally, Louisbourg Investments Inc. raised its stake in shares of Brookfield by 18.3% during the 4th quarter. Louisbourg Investments Inc. now owns 196,124 shares of the company's stock valued at $11,267,000 after purchasing an additional 30,287 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Brookfield stock traded down $0.52 during midday trading on Thursday, hitting $60.00. 1,397,335 shares of the company's stock were exchanged, compared to its average volume of 2,220,346. The stock has a 50-day moving average price of $58.54 and a two-hundred day moving average price of $54.89. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The company has a market cap of $98.76 billion, a P/E ratio of 199.99 and a beta of 1.57.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) 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, equities research analysts forecast that Brookfield Co. will post 3.9 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield's payout ratio is currently 106.67%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BN shares. CIBC boosted their price objective on Brookfield from $68.00 to $70.00 and gave the company an "outperformer" rating in a research note on Thursday, January 23rd. BMO Capital Markets reiterated an "outperform" rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Morgan Stanley started coverage on Brookfield in a research note on Thursday, January 23rd. They set an "overweight" rating and a $80.00 price objective on the stock. TD Securities boosted their target price on Brookfield from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Scotiabank boosted their target price on Brookfield from $69.00 to $71.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $64.00.

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.