Wellington Management Group LLP Has $44.20 Million Position in Brookfield Co. (NYSE:BN)

Wellington Management Group LLP grew its holdings in shares of Brookfield Co. (NYSE:BN) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100,913 shares of the company’s stock after buying an additional 48,610 shares during the quarter. Wellington Management Group LLP owned approximately 0.07% of Brookfield worth $44,202,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Blacksheep Fund Management Ltd acquired a new position in Brookfield during the fourth quarter worth $101,800,000. Eldred Rock Partners LLC bought a new stake in shares of Brookfield in the 4th quarter valued at about $9,868,000. Choreo LLC acquired a new stake in Brookfield in the 4th quarter valued at about $754,000. Norges Bank bought a new position in Brookfield during the fourth quarter worth about $614,104,000. Finally, Gold Investment Management Ltd. acquired a new position in Brookfield during the fourth quarter worth approximately $4,473,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Scotiabank reduced their target price on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $46.00 price objective (up from $45.00) on shares of Brookfield in a report on Friday, May 10th. Finally, Royal Bank of Canada cut their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. 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 stock. Based on data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average target price of $48.10.

Brookfield Price Performance

Shares of Brookfield stock opened at $40.57 on Monday. The company has a 50-day simple moving average of $42.18 and a two-hundred day simple moving average of $40.84. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $45.11. The stock has a market capitalization of $66.63 billion, a price-to-earnings ratio of 66.51 and a beta of 1.51. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last issued 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. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The business had revenue of $22.91 billion during the quarter. During the same quarter last year, the firm posted $0.72 earnings per share. Analysts forecast that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, June 13th. Brookfield’s payout ratio is currently 52.46%.

Insider Activity at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the sale, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The sale was disclosed in a document filed 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 on Wednesday, April 24th. The stock was 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 owned by insiders.

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.