Brookfield Co. (NYSE:BN) Holdings Boosted by HB Wealth Management LLC

HB Wealth Management LLC increased its holdings in Brookfield Co. (NYSE:BN) by 56.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,285 shares of the company’s stock after purchasing an additional 8,037 shares during the period. HB Wealth Management LLC’s holdings in Brookfield were worth $926,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Capital World Investors increased its position in Brookfield by 102.2% during the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after acquiring an additional 24,975,364 shares during the period. Norges Bank bought a new position in shares of Brookfield during the 4th quarter worth about $614,104,000. TD Asset Management Inc increased its holdings in shares of Brookfield by 16.2% during the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after purchasing an additional 3,702,266 shares during the period. SG Americas Securities LLC acquired a new position in shares of Brookfield during the second quarter valued at about $128,321,000. Finally, M&G Plc bought a new stake in shares of Brookfield in the first quarter valued at about $111,222,000. 61.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on BN. JPMorgan Chase & Co. upped their target price on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada cut their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Scotiabank upped their price objective on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upped their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Finally, TD Securities upped their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.88.

Brookfield Stock Up 0.9 %

Shares of NYSE:BN traded up $0.46 during mid-day trading on Thursday, reaching $49.93. 276,066 shares of the stock were exchanged, compared to its average volume of 3,095,436. The stock’s 50 day simple moving average is $45.18 and its 200-day simple moving average is $42.88. Brookfield Co. has a one year low of $28.84 and a one year high of $50.17. The company has a market cap of $82.07 billion, a P/E ratio of 81.08 and a beta of 1.52. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.64%. Brookfield’s payout ratio is presently 52.46%.

Insider Buying and Selling

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the 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 completion of the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is owned by company insiders.

Brookfield Company 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.