International Assets Investment Management LLC Makes New Investment in Brookfield Co. (NYSE:BN)

International Assets Investment Management LLC purchased a new position in Brookfield Co. (NYSE:BN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 35,426 shares of the company’s stock, valued at approximately $14,210,000.

A number of other hedge funds have also recently added to or reduced their stakes in BN. Brookfield Corp ON raised its holdings in shares of Brookfield by 1.4% in the 1st quarter. Brookfield Corp ON now owns 133,723,524 shares of the company’s stock worth $4,358,050,000 after purchasing an additional 1,835,778 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at about $3,727,998,000. Principal Financial Group Inc. raised its holdings in shares of Brookfield by 8.9% during the 3rd quarter. Principal Financial Group Inc. now owns 63,734,864 shares of the company’s stock valued at $1,993,867,000 after buying an additional 5,192,256 shares during the period. Vanguard Group Inc. raised its holdings in shares of Brookfield by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 55,429,678 shares of the company’s stock valued at $1,733,286,000 after buying an additional 1,016,222 shares during the period. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Brookfield during the 4th quarter valued at about $775,028,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is owned by insiders.

Brookfield Trading Up 1.4 %

NYSE:BN opened at $39.72 on Friday. 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 $65.17 billion, a P/E ratio of 64.07 and a beta of 1.49. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. The business has a 50 day simple moving average of $40.87 and a 200 day simple moving average of $37.30.

Brookfield (NYSE:BN) last released its quarterly earnings data 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 business had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 EPS. Equities research analysts predict that Brookfield Co. will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, March 12th. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. Brookfield’s payout ratio is 51.61%.

Wall Street Analyst Weigh In

BN has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Royal Bank of Canada raised their target price on Brookfield from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 12th. CIBC lifted their price objective on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Scotiabank lifted their price objective on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Finally, BMO Capital Markets lifted their price objective on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Two 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.45.

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.