Oppenheimer & Co. Inc. Sells 48,037 Shares of Brookfield Co. (NYSE:BN)

Oppenheimer & Co. Inc. trimmed its stake in shares of Brookfield Co. (NYSE:BNFree Report) by 56.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,464 shares of the company’s stock after selling 48,037 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Brookfield were worth $1,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. increased its holdings in Brookfield by 5.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 72,253 shares of the company’s stock worth $2,259,000 after purchasing an additional 3,557 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Brookfield by 123.7% in the third quarter. Kestra Private Wealth Services LLC now owns 49,792 shares of the company’s stock worth $1,557,000 after purchasing an additional 27,536 shares in the last quarter. Keybank National Association OH increased its holdings in Brookfield by 7.6% in the third quarter. Keybank National Association OH now owns 29,684 shares of the company’s stock worth $928,000 after purchasing an additional 2,090 shares in the last quarter. Barclays PLC grew its stake in Brookfield by 1,698.3% in the third quarter. Barclays PLC now owns 58,752 shares of the company’s stock valued at $1,836,000 after acquiring an additional 55,485 shares during the period. Finally, Atria Investments Inc grew its stake in Brookfield by 18.1% in the third quarter. Atria Investments Inc now owns 62,027 shares of the company’s stock valued at $1,940,000 after acquiring an additional 9,525 shares during the period. 58.22% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Brookfield stock opened at $39.73 on Thursday. Brookfield Co. has a 52 week low of $28.25 and a 52 week high of $41.23. The business has a 50-day simple moving average of $38.86 and a 200 day simple moving average of $35.07. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.37. The stock has a market cap of $65.15 billion, a price-to-earnings ratio of -1,323.89 and a beta of 1.50.

Brookfield (NYSE:BNGet Free Report) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $24.44 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Brookfield had a return on equity of 2.23% and a net margin of 0.12%.

Wall Street Analyst Weigh In

BN has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Brookfield from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Canaccord Genuity Group lifted their target price on Brookfield from $37.74 to $41.00 in a research report on Wednesday, December 20th. Scotiabank lifted their price target on Brookfield from $46.25 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Keefe, Bruyette & Woods lifted their price target on Brookfield from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. lifted their price target on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $46.20.

Check Out Our Latest Research Report on Brookfield

Insider Activity at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 562,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $12.06, for a total transaction of $6,783,750.00. Following the completion of the transaction, the director now owns 16,742,168 shares of the company’s stock, valued at approximately $201,910,546.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brookfield news, major shareholder Gp Ltd Bcp sold 387,068 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $2.24, for a total transaction of $867,032.32. Following the completion of the transaction, the insider now owns 29,981,414 shares of the company’s stock, valued at approximately $67,158,367.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ocm Growth Holdings Llc sold 562,500 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $12.06, for a total value of $6,783,750.00. Following the completion of the transaction, the director now directly owns 16,742,168 shares of the company’s stock, valued at approximately $201,910,546.08. The disclosure for this sale can be found here. Insiders sold 6,545,283 shares of company stock worth $22,555,512 in the last ninety days. 11.00% of the stock is owned by company insiders.

Brookfield Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Brookfield (NYSE:BN)

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