Asset Management Advisors LLC Buys New Position in Brookfield Co. (NYSE:BN)

Asset Management Advisors LLC bought a new stake in shares of Brookfield Co. (NYSE:BN) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 138,960 shares of the company’s stock, valued at approximately $5,575,000. Brookfield accounts for 4.6% of Asset Management Advisors LLC’s holdings, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of BN. Moneta Group Investment Advisors LLC purchased a new stake in Brookfield during the 4th quarter worth approximately $3,727,998,000. 1832 Asset Management L.P. purchased a new stake in Brookfield during the 4th quarter worth approximately $775,028,000. Mackenzie Financial Corp purchased a new stake in Brookfield during the 4th quarter worth approximately $739,834,000. Norges Bank purchased a new stake in Brookfield during the 4th quarter worth approximately $483,001,000. Finally, Morgan Stanley acquired a new position in shares of Brookfield in the 4th quarter worth approximately $267,647,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Price Performance

Shares of BN traded up $0.24 during midday trading on Tuesday, reaching $40.77. The stock had a trading volume of 168,123 shares, compared to its average volume of 2,516,158. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $43.17. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. The company has a market capitalization of $66.89 billion, a P/E ratio of 65.39 and a beta of 1.49. The firm’s 50 day moving average price is $40.87 and its 200-day moving average price is $37.21.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts forecast that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio is 51.61%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BN. TD Securities lifted their target price on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research report on Sunday, February 11th. Royal Bank of Canada lifted their target price on Brookfield from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. BMO Capital Markets lifted their target price on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group lifted their target price on Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.45.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.00% of the stock is currently owned by corporate insiders.

Brookfield 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.