Confluence Investment Management LLC Sells 14,776 Shares of Brookfield Co. (NYSE:BN)

Confluence Investment Management LLC decreased its holdings in shares of Brookfield Co. (NYSE:BN) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,399,682 shares of the company’s stock after selling 14,776 shares during the period. Confluence Investment Management LLC owned about 0.09% of Brookfield worth $47,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TIAA FSB bought a new stake in Brookfield during the fourth quarter valued at about $799,000. LPL Financial LLC purchased a new stake in Brookfield in the 4th quarter worth approximately $2,836,000. UBS Group AG purchased a new stake in Brookfield in the 4th quarter worth approximately $30,725,000. Belpointe Asset Management LLC bought a new stake in Brookfield during the 4th quarter worth approximately $120,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Brookfield during the fourth quarter valued at approximately $7,205,000. 58.22% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Performance

NYSE BN opened at $35.21 on Thursday. The stock has a market capitalization of $57.68 billion, a PE ratio of 391.22 and a beta of 1.43. Brookfield Co. has a 1-year low of $28.25 and a 1-year high of $50.19. The business has a 50 day simple moving average of $33.86 and a two-hundred day simple moving average of $32.42. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.19 and a quick ratio of 1.01.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.75 earnings per share for the quarter. Brookfield had a net margin of 0.33% and a return on equity of 1.80%. The company had revenue of $23.67 billion for the quarter, compared to analysts’ expectations of $1.10 billion.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, August 30th. Brookfield’s dividend payout ratio is 311.11%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group cut shares of Brookfield from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Credit Suisse Group lowered their price objective on Brookfield from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 31st. TD Securities increased their target price on Brookfield from $60.00 to $61.00 and gave the stock an “action list buy” rating in a research report on Monday, August 14th. Royal Bank of Canada lowered their price target on Brookfield from $52.00 to $50.00 and set an “outperform” rating on the stock in a report on Monday, August 14th. Finally, CSFB cut their price objective on shares of Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 31st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Insider Activity at Brookfield

In other Brookfield news, major shareholder Opps Eb Holdings Ltd. Ocm sold 3,781,561 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $58.00, for a total transaction of $219,330,538.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.00% of the stock is owned by insiders.

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.