Truist Financial Corp lifted its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 140.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 311,449 shares of the company's stock after acquiring an additional 181,950 shares during the period. Truist Financial Corp's holdings in Brookfield were worth $17,893,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. grew its holdings in shares of Brookfield by 178.4% during the third quarter. Blue Trust Inc. now owns 1,963 shares of the company's stock valued at $104,000 after buying an additional 1,258 shares during the last quarter. Signaturefd LLC grew its stake in Brookfield by 116.3% during the 3rd quarter. Signaturefd LLC now owns 5,558 shares of the company's stock valued at $295,000 after purchasing an additional 2,988 shares during the last quarter. Greenleaf Trust purchased a new stake in Brookfield during the 3rd quarter valued at about $331,000. International Assets Investment Management LLC acquired a new position in shares of Brookfield in the third quarter valued at about $23,840,000. Finally, Grimes & Company Inc. purchased a new position in shares of Brookfield in the third quarter worth about $409,000. Institutional investors and hedge funds own 61.60% of the company's stock.
Brookfield Stock Performance
Shares of BN traded down $1.60 during trading hours on Friday, hitting $58.43. The stock had a trading volume of 1,034,338 shares, compared to its average volume of 2,183,433. 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 firm has a 50-day moving average price of $58.54 and a 200 day moving average price of $54.89. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The firm has a market capitalization of $96.18 billion, a price-to-earnings ratio of 194.71 and a beta of 1.57.
Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. As a group, research analysts anticipate that Brookfield Co. will post 3.85 EPS for the current year.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield's dividend payout ratio is currently 106.67%.
Wall Street Analyst Weigh In
BN has been the topic of a number of recent research reports. BMO Capital Markets reiterated an "outperform" rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities lifted their price objective on shares of Brookfield from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Morgan Stanley assumed coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an "overweight" rating and a $80.00 price objective for the company. CIBC lifted their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an "outperformer" rating in a research note on Thursday, January 23rd. Finally, Scotiabank lifted their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a "sector outperform" rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Brookfield presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.
Check Out Our Latest Analysis on BN
About Brookfield
(
Free Report)
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.
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