Raymond James Trust N.A. Decreases Stock Position in Brookfield Co. (NYSE:BN)

Raymond James Trust N.A. trimmed its position in shares of Brookfield Co. (NYSE:BN) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,445 shares of the company’s stock after selling 482 shares during the quarter. Raymond James Trust N.A.’s holdings in Brookfield were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Capital World Investors raised its holdings in shares of Brookfield by 102.2% in the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after buying an additional 24,975,364 shares during the period. Norges Bank bought a new position in shares of Brookfield in the fourth quarter worth about $614,104,000. TD Asset Management Inc increased its stake in Brookfield by 16.2% in the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after buying an additional 3,702,266 shares during the period. SG Americas Securities LLC bought a new stake in Brookfield during the 2nd quarter valued at about $128,321,000. Finally, M&G Plc purchased a new stake in Brookfield in the 1st quarter valued at about $111,222,000. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BN shares. TD Securities raised their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Scotiabank raised their price target on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reduced their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.88.

Insider Buying and Selling

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Brookfield Stock Up 0.6 %

BN stock opened at $49.40 on Tuesday. The stock has a market capitalization of $81.20 billion, a PE ratio of 80.98 and a beta of 1.52. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $49.66. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. The firm has a 50 day moving average of $44.85 and a 200 day moving average of $42.77.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts forecast that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, September 12th. Brookfield’s payout ratio is 52.46%.

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.