Simplicity Wealth LLC Purchases New Holdings in Brookfield Co. (NYSE:BN)

Simplicity Wealth LLC bought a new stake in shares of Brookfield Co. (NYSE:BN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,030 shares of the company’s stock, valued at approximately $922,000.

Other hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. lifted its holdings in Brookfield by 4,670.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 794 shares in the last quarter. Connectus Wealth LLC raised its stake in shares of Brookfield by 1,049.1% during the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after acquiring an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC boosted its holdings in shares of Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the period. Allworth Financial LP grew its stake in Brookfield by 256.2% in the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new position in Brookfield during the 3rd quarter worth $37,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.7 %

NYSE BN traded up $0.32 during trading on Monday, hitting $44.81. The company’s stock had a trading volume of 1,966,364 shares, compared to its average volume of 2,826,471. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $45.11. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02. The company has a market cap of $73.59 billion, a PE ratio of 73.46 and a beta of 1.48. The business’s 50 day simple moving average is $41.50 and its 200-day simple moving average is $39.42.

Brookfield (NYSE:BN) last released its earnings results on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The firm had revenue of $22.91 billion for the quarter. During the same period in the previous year, the company earned $0.72 earnings per share. On average, equities analysts anticipate that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, June 13th. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BN shares. CIBC raised their price target on Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. BMO Capital Markets boosted their price target on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $46.00 price target (up previously from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Canaccord Genuity Group lifted their price objective on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a report on Friday, February 9th. Finally, Scotiabank lowered their target price on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.10.

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.