Private Advisor Group LLC Sells 375 Shares of Brookfield Co. (NYSE:BN)

Private Advisor Group LLC reduced its stake in shares of Brookfield Co. (NYSE:BN) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,984 shares of the company’s stock after selling 375 shares during the quarter. Private Advisor Group LLC’s holdings in Brookfield were worth $622,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BN. Capital World Investors raised its position in shares of Brookfield by 102.2% during the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after acquiring an additional 24,975,364 shares during the last quarter. TD Asset Management Inc increased its position in Brookfield by 16.2% in the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after purchasing an additional 3,702,266 shares during the period. SG Americas Securities LLC bought a new stake in Brookfield during the 2nd quarter worth about $128,321,000. M&G Plc acquired a new position in Brookfield during the 1st quarter valued at about $111,222,000. Finally, Blacksheep Fund Management Ltd bought a new position in shares of Brookfield in the 4th quarter valued at about $101,800,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.2 %

NYSE BN opened at $50.32 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The stock’s 50-day moving average is $46.93 and its 200-day moving average is $43.62. Brookfield Co. has a one year low of $28.84 and a one year high of $50.81. The firm has a market cap of $82.70 billion, a P/E ratio of 82.49 and a beta of 1.53.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Ratings Changes

BN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. TD Securities increased their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Scotiabank lifted their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $51.59.

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.