Brookfield Co. (NYSE:BN) Holdings Lifted by Truist Financial Corp

Truist Financial Corp increased its holdings in shares of Brookfield Co. (NYSE:BN) by 140.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,449 shares of the company’s stock after buying an additional 181,950 shares during the quarter. Truist Financial Corp’s holdings in Brookfield were worth $17,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Brookfield by 131.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after purchasing an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Brookfield by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after buying an additional 9,915 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after buying an additional 591,757 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after buying an additional 351,231 shares during the last quarter. Finally, Partners Group Holding AG lifted its position in shares of Brookfield by 53.5% in the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after buying an additional 142,603 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN opened at $60.53 on Thursday. The business has a 50 day moving average price of $58.53 and a 200 day moving average price of $54.86. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The company has a market cap of $99.64 billion, a price-to-earnings ratio of 201.76 and a beta of 1.57.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Research analysts predict that Brookfield Co. will post 3.9 earnings per share for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.59%. Brookfield’s dividend payout ratio is currently 106.67%.

Analysts Set New Price Targets

BN has been the subject of a number of analyst reports. Scotiabank boosted their price target on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. TD Securities boosted their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. CIBC boosted their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. BMO Capital Markets reissued an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.