Park Place Capital Corp Sells 3,221 Shares of Brookfield Co. (NYSE:BN)

Park Place Capital Corp cut its stake in Brookfield Co. (NYSE:BN) by 32.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,601 shares of the company’s stock after selling 3,221 shares during the period. Park Place Capital Corp’s holdings in Brookfield were worth $276,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fortis Group Advisors LLC grew its holdings in shares of Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Brookfield by 4,670.6% in the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after purchasing an additional 794 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Brookfield by 256.2% in the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Brookfield in the first quarter worth about $42,000. Finally, GAMMA Investing LLC lifted its stake in Brookfield by 161.8% in the first quarter. GAMMA Investing LLC now owns 1,047 shares of the company’s stock worth $44,000 after acquiring an additional 647 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

BN stock opened at $40.94 on Tuesday. The firm has a market cap of $67.29 billion, a price-to-earnings ratio of 67.12 and a beta of 1.52. The firm has a 50-day simple moving average of $42.46 and a two-hundred day simple moving average of $41.02. Brookfield Co. has a one year low of $28.84 and a one year high of $45.11. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17.

Brookfield (NYSE:BN) last posted its quarterly earnings data 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 net margin of 1.16% and a return on equity of 3.15%. The firm had revenue of $22.91 billion for the quarter. During the same quarter last year, the company earned $0.72 EPS. On average, equities analysts forecast that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.78%. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BN. Scotiabank lowered their price objective on shares of 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 reaffirmed a “market perform” rating and issued a $46.00 price objective (up from $45.00) on shares of Brookfield in a research note on Friday, May 10th. Finally, Royal Bank of Canada lowered their price objective 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $48.10.

Insider Transactions at Brookfield

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction 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 this link. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield 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 transaction, the director now owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

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.