NewEdge Wealth LLC Cuts Stake in Brookfield Co. (NYSE:BN)

NewEdge Wealth LLC lessened its holdings in Brookfield Co. (NYSE:BN) by 15.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,776 shares of the company’s stock after selling 2,443 shares during the quarter. NewEdge Wealth LLC’s holdings in Brookfield were worth $553,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Eldred Rock Partners LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $9,868,000. Private Trust Co. NA boosted its stake in shares of Brookfield by 30.5% during the third quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock valued at $64,000 after purchasing an additional 480 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Brookfield by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock valued at $182,650,000 after purchasing an additional 273,474 shares during the period. Northside Capital Management LLC bought a new position in shares of Brookfield in the fourth quarter worth approximately $229,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Brookfield in the third quarter worth $23,667,000. 61.60% of the stock is owned by institutional investors.

Insider Activity at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.00% of the stock is owned by corporate insiders.

Brookfield Stock Performance

Shares of Brookfield stock opened at $38.72 on Wednesday. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17. The firm has a market capitalization of $63.58 billion, a P/E ratio of 62.45 and a beta of 1.49. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $40.87 and a two-hundred day simple moving average of $37.53.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. Brookfield’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. On average, equities analysts forecast that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.83%. This is an increase from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio is presently 51.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BN. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. BMO Capital Markets raised their target price on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. TD Securities upped their price target on Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a research report on Sunday, February 11th. Canaccord Genuity Group lifted their price objective on Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, TheStreet raised Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Two investment 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 stock. According to data from MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $47.45.

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.