Benjamin F. Edwards & Company Inc. Sells 6,216 Shares of Brookfield Co. (NYSE:BN)

Benjamin F. Edwards & Company Inc. trimmed its stake in Brookfield Co. (NYSE:BN) by 82.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,324 shares of the company’s stock after selling 6,216 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Brookfield were worth $55,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BN. Gilbert & Cook Inc. lifted its position in shares of Brookfield by 5.4% in the 4th quarter. Gilbert & Cook Inc. now owns 35,468 shares of the company’s stock worth $1,423,000 after purchasing an additional 1,833 shares during the period. Commerce Bank lifted its position in Brookfield by 32.3% during the 4th quarter. Commerce Bank now owns 10,480 shares of the company’s stock valued at $420,000 after acquiring an additional 2,557 shares during the period. Focus Financial Network Inc. ADV purchased a new position in Brookfield during the 4th quarter valued at about $216,000. Dorsey & Whitney Trust CO LLC lifted its position in Brookfield by 5.1% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 10,475 shares of the company’s stock valued at $420,000 after acquiring an additional 512 shares during the period. Finally, Qtron Investments LLC purchased a new position in Brookfield during the 4th quarter valued at about $342,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

Shares of BN stock opened at $53.39 on Friday. The company has a 50 day moving average price of $48.10 and a 200-day moving average price of $44.24. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $54.29. The firm has a market capitalization of $87.83 billion, a PE ratio of 87.53 and a beta of 1.53. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The firm had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, equities research analysts expect that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Brookfield’s dividend payout ratio (DPR) is 52.46%.

Analysts Set New Price Targets

Several brokerages have issued reports on BN. JPMorgan Chase & Co. lifted their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. TD Securities lifted their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. BMO Capital Markets lifted their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada decreased their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $51.59.

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.