Envestnet Portfolio Solutions Inc. Sells 29,182 Shares of Brookfield Co. (NYSE:BN)

Envestnet Portfolio Solutions Inc. decreased its holdings in Brookfield Co. (NYSE:BN) by 73.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,423 shares of the company’s stock after selling 29,182 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Brookfield were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Sunbelt Securities Inc. raised its stake in Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after acquiring an additional 794 shares during the period. Allworth Financial LP raised its position in shares of Brookfield by 256.2% in the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after purchasing an additional 638 shares during the period. First Command Advisory Services Inc. acquired a new stake in shares of Brookfield during the 3rd quarter worth about $37,000. Oakworth Capital Inc. boosted its holdings in shares of Brookfield by 172.3% during the 4th quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock worth $43,000 after buying an additional 679 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Brookfield by 47.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the company’s stock valued at $48,000 after buying an additional 501 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the stock in a transaction dated 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 sale, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Brookfield Stock Performance

Brookfield stock opened at $44.36 on Thursday. The business has a 50 day moving average of $41.59 and a 200-day moving average of $39.53. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $45.11. The company has a market capitalization of $72.84 billion, a P/E ratio of 72.71 and a beta of 1.48.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $22.91 billion during the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same quarter last year, the company posted $0.72 earnings per share. On average, equities research analysts predict that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a $0.08 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.72%. Brookfield’s payout ratio is 52.46%.

Wall Street Analyst Weigh In

BN has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. CIBC lifted their target price on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $46.00 price target (up from $45.00) on shares of Brookfield in a research note on Friday, May 10th. TD Securities lifted their price objective on shares of Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research note on Sunday, February 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.10.

Brookfield Company 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.