Vanguard Group Inc. Buys 1,063,110 Shares of Brookfield Co. (NYSE:BN)

Vanguard Group Inc. boosted its holdings in Brookfield Co. (NYSE:BN) by 1.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,480,308 shares of the company’s stock after purchasing an additional 1,063,110 shares during the quarter. Vanguard Group Inc. owned approximately 3.50% of Brookfield worth $2,406,700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BN. Connectus Wealth LLC boosted its position in shares of Brookfield by 1,049.1% during the 4th 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 during the last quarter. Fortis Group Advisors LLC boosted its position in shares of Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the last quarter. Allworth Financial LP boosted its position in shares of Brookfield by 256.2% during the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after acquiring an additional 638 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Brookfield during the 1st quarter valued at approximately $42,000. Finally, Oakworth Capital Inc. boosted its position in shares of Brookfield by 172.3% during the 4th quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock valued at $43,000 after acquiring an additional 679 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was 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 at this hyperlink. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BN. Keefe, Bruyette & Woods lowered their target price on Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada decreased their price target on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Scotiabank decreased their price target on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.90.

Brookfield Trading Down 0.3 %

BN stock traded down $0.13 during midday trading on Friday, reaching $46.06. The company’s stock had a trading volume of 1,026,301 shares, compared to its average volume of 4,516,206. 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 stock has a fifty day simple moving average of $43.17 and a two-hundred day simple moving average of $41.49. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $47.43. The firm has a market capitalization of $75.71 billion, a price-to-earnings ratio of 75.51 and a beta of 1.52.

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

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, June 13th. Brookfield’s payout ratio is 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.