1832 Asset Management L.P. Sells 815,816 Shares of Brookfield Co. (NYSE:BN)

1832 Asset Management L.P. reduced its holdings in shares of Brookfield Co. (NYSE:BN) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 21,789,751 shares of the company’s stock after selling 815,816 shares during the period. Brookfield makes up 0.7% of 1832 Asset Management L.P.’s holdings, making the stock its 12th biggest holding. 1832 Asset Management L.P.’s holdings in Brookfield were worth $905,146,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC lifted its position in shares of Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after buying an additional 337 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Brookfield during the 2nd quarter worth $31,000. Family Firm Inc. bought a new stake in shares of Brookfield during the 2nd quarter worth $36,000. Finally, Salem Investment Counselors Inc. bought a new stake in shares of Brookfield during the 1st quarter worth $42,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BN. Royal Bank of Canada dropped their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank increased their target price on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods increased their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $51.59.

Brookfield Trading Down 0.0 %

Shares of BN stock opened at $52.18 on Friday. The stock has a market cap of $85.77 billion, a price-to-earnings ratio of 85.54 and a beta of 1.53. The stock has a 50-day moving average of $47.46 and a 200-day moving average of $43.87. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $52.48.

Brookfield (NYSE:BN) last issued 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. The company had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities research analysts forecast that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. Brookfield’s payout ratio is 52.46%.

Brookfield 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.