DekaBank Deutsche Girozentrale Sells 12,888 Shares of Brookfield Co. (NYSE:BN)

DekaBank Deutsche Girozentrale lowered its position in shares of Brookfield Co. (NYSE:BN) by 5.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 235,922 shares of the company’s stock after selling 12,888 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Brookfield were worth $9,735,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BN. Capital World Investors raised its position in Brookfield by 102.2% during the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after purchasing an additional 24,975,364 shares during the last quarter. Norges Bank acquired a new position in shares of Brookfield in the fourth quarter worth approximately $614,104,000. TD Asset Management Inc boosted its holdings in Brookfield by 16.2% in the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock valued at $1,069,892,000 after acquiring an additional 3,702,266 shares during the last quarter. M&G Plc bought a new position in Brookfield during the 1st quarter worth approximately $111,222,000. Finally, Blacksheep Fund Management Ltd acquired a new position in shares of Brookfield in the 4th quarter worth approximately $101,800,000. 61.60% of the stock is currently owned by institutional investors.

Insider Activity at Brookfield

In related news, 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 transaction of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is currently owned by insiders.

Brookfield Stock Down 4.7 %

BN stock traded down $2.22 during midday trading on Friday, reaching $45.36. 2,942,713 shares of the company’s stock traded hands, compared to its average volume of 3,842,055. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. The firm’s fifty day moving average price is $43.67 and its 200-day moving average price is $42.06. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $49.44. The company has a market cap of $74.57 billion, a price-to-earnings ratio of 74.36 and a beta of 1.52.

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

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.71%. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BN. Scotiabank lifted their target price on shares of Brookfield from $49.50 to $50.50 and gave the stock an “outperform” rating in a research note on Thursday. Keefe, Bruyette & Woods cut their target price on Brookfield from $46.00 to $44.00 and set a “market perform” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. lifted their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada cut 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. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.00.

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.