Brookfield Co. (NYSE:BN) Shares Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its holdings in shares of Brookfield Co. (NYSE:BN) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,994 shares of the company’s stock after purchasing an additional 444 shares during the period. Wealthspire Advisors LLC’s holdings in Brookfield were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc boosted its holdings in Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after buying an additional 823,428 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after acquiring an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after acquiring an additional 196,790 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after acquiring an additional 591,757 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Brookfield Stock Performance

Shares of BN opened at $57.63 on Wednesday. The company has a market capitalization of $94.86 billion, a PE ratio of 192.09 and a beta of 1.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The company’s 50 day moving average price is $58.49 and its 200 day moving average price is $55.34. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Research analysts expect that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced 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. This represents a $0.36 annualized dividend and a yield of 0.62%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is currently 120.00%.

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.