Brookfield Co. (NYSE:BN) Stock Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Brookfield Co. (NYSE:BN) by 37.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,053 shares of the company’s stock after selling 53,165 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Brookfield were worth $3,729,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. LPL Financial LLC raised its holdings in shares of Brookfield by 13.2% during the third quarter. LPL Financial LLC now owns 193,329 shares of the company’s stock worth $6,045,000 after acquiring an additional 22,475 shares in the last quarter. Northern Trust Corp increased its holdings in Brookfield by 5.2% in the third quarter. Northern Trust Corp now owns 922,052 shares of the company’s stock worth $28,833,000 after buying an additional 45,911 shares during the last quarter. Ancora Advisors LLC lifted its stake in Brookfield by 3.1% in the third quarter. Ancora Advisors LLC now owns 46,717 shares of the company’s stock valued at $1,461,000 after acquiring an additional 1,398 shares during the last quarter. United Services Automobile Association grew its position in Brookfield by 20.0% in the third quarter. United Services Automobile Association now owns 47,130 shares of the company’s stock worth $1,474,000 after acquiring an additional 7,866 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Brookfield during the 3rd quarter worth $23,667,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Scotiabank dropped their price objective on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research note on Friday, May 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $46.00 target price (up previously from $45.00) on shares of Brookfield in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.10.

Insider Transactions at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the sale, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.

Brookfield Price Performance

Shares of NYSE BN traded up $0.51 during mid-day trading on Tuesday, hitting $41.44. 417,455 shares of the stock were exchanged, compared to its average volume of 3,145,773. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $45.11. The stock’s fifty day simple moving average is $42.46 and its two-hundred day simple moving average is $41.02. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17. The company has a market cap of $68.11 billion, a P/E ratio of 67.12 and a beta of 1.52.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business had revenue of $22.91 billion for the quarter. During the same quarter last year, the company earned $0.72 EPS. As a group, analysts forecast that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

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.