Choreo LLC Buys Shares of 18,805 Brookfield Co. (NYSE:BN)

Choreo LLC bought a new stake in Brookfield Co. (NYSE:BN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 18,805 shares of the company’s stock, valued at approximately $754,000.

Several other institutional investors also recently bought and sold shares of BN. Principal Financial Group Inc. grew its position in Brookfield by 8.9% in 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 acquiring an additional 5,192,256 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Brookfield by 21.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,233,299 shares of the company’s stock valued at $602,966,000 after acquiring an additional 3,331,522 shares in the last quarter. FMR LLC boosted its stake in shares of Brookfield by 37.8% in the 3rd quarter. FMR LLC now owns 10,025,978 shares of the company’s stock valued at $313,502,000 after buying an additional 2,752,801 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Brookfield by 153.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,848,871 shares of the company’s stock valued at $57,842,000 after buying an additional 1,118,396 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Brookfield by 1.9% in 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. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BN has been the subject of several recent research reports. TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. CIBC lifted their price objective on Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. BMO Capital Markets lifted their price objective on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Scotiabank lifted their price objective on Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Two research 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. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $47.25.

Brookfield Trading Up 2.1 %

BN opened at $40.98 on Thursday. The firm has a market cap of $67.29 billion, a price-to-earnings ratio of 66.10 and a beta of 1.49. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $43.17. The business’s 50 day moving average is $40.81 and its two-hundred day moving average is $38.14. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.69 by $0.14. The company had revenue of $24.52 billion for 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 firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 earnings per share. On average, research analysts predict that Brookfield Co. will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.08 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 annualized dividend and a yield of 0.78%. Brookfield’s payout ratio is 51.61%.

Insiders Place Their Bets

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by corporate insiders.

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.