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

Principal Financial Group Inc. lessened its stake in Brookfield Co. (NYSE:BN - Free Report) by 2.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 59,091,655 shares of the company's stock after selling 1,766,804 shares during the period. Brookfield comprises approximately 1.7% of Principal Financial Group Inc.'s portfolio, making the stock its 5th largest position. Principal Financial Group Inc. owned 3.59% of Brookfield worth $3,140,838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. increased its stake in Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company's stock worth $282,000 after buying an additional 257 shares during the period. Blue Trust Inc. boosted its holdings in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company's stock valued at $30,000 after purchasing an additional 272 shares during the period. First Trust Direct Indexing L.P. grew its stake in Brookfield by 2.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company's stock worth $551,000 after purchasing an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company's stock worth $71,000 after purchasing an additional 296 shares during the period. Finally, Pembroke Management LTD raised its position in Brookfield by 4.4% in the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company's stock valued at $307,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Stock Performance

Shares of NYSE BN traded up $0.71 during trading hours on Thursday, reaching $57.69. The stock had a trading volume of 864,885 shares, compared to its average volume of 2,819,147. The firm has a market cap of $94.98 billion, a price-to-earnings ratio of 98.22 and a beta of 1.53. Brookfield Co. has a fifty-two week low of $31.43 and a fifty-two week high of $57.69. The firm has a 50-day moving average of $52.18 and a 200-day moving average of $46.86. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

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

Analyst Ratings Changes

A number of brokerages have recently commented on BN. Keefe, Bruyette & Woods boosted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a "market perform" rating in a research report on Friday, August 9th. Royal Bank of Canada decreased their price objective on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. BMO Capital Markets increased their target price on Brookfield from $48.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, September 11th. Scotiabank raised their price target on Brookfield from $51.25 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on 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 company's stock. According to MarketBeat, Brookfield currently 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.