Private Management Group Inc. Has $31.58 Million Holdings in Brookfield Co. (NYSE:BN)

Private Management Group Inc. lowered its stake in Brookfield Co. (NYSE:BN) by 10.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 594,125 shares of the company’s stock after selling 66,340 shares during the period. Brookfield accounts for 1.1% of Private Management Group Inc.’s portfolio, making the stock its 27th largest position. Private Management Group Inc.’s holdings in Brookfield were worth $31,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in BN. Blue Trust Inc. lifted its holdings in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Brookfield during the second quarter worth approximately $31,000. Family Firm Inc. bought a new stake in Brookfield during the second quarter worth about $36,000. Nisa Investment Advisors LLC raised its holdings in shares of Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after buying an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its stake in Brookfield by 100.3% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,238 shares of the company’s stock valued at $52,000 after purchasing an additional 620 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 0.3 %

Shares of Brookfield stock traded up $0.14 during trading hours on Friday, hitting $53.14. The company’s stock had a trading volume of 1,174,246 shares, compared to its average volume of 2,835,617. The firm has a fifty day moving average of $51.82 and a 200-day moving average of $46.46. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield Co. has a twelve month low of $31.05 and a twelve month high of $56.83. The stock has a market cap of $87.48 billion, a price-to-earnings ratio of 91.64 and a beta of 1.54.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts forecast that Brookfield Co. will post 3.81 EPS for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield’s dividend payout ratio is currently 55.17%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Scotiabank lifted their price objective on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. TD Securities lifted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada dropped their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.31.

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.