CIBC Asset Management Inc Purchases 823,428 Shares of Brookfield Co. (NYSE:BN)

CIBC Asset Management Inc raised its position in Brookfield Co. (NYSE:BN) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,178,133 shares of the company’s stock after acquiring an additional 823,428 shares during the period. Brookfield accounts for about 2.7% of CIBC Asset Management Inc’s portfolio, making the stock its 7th largest position. CIBC Asset Management Inc’s holdings in Brookfield were worth $814,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after acquiring an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. raised its stake in shares of Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after acquiring an additional 196,790 shares during the period. Toronto Dominion Bank raised its stake in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after acquiring an additional 1,301,072 shares during the period. Geode Capital Management LLC raised its stake in shares of Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares during the period. Finally, Baillie Gifford & Co. raised its stake in shares of Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after acquiring an additional 3,271,403 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Up 0.8 %

Shares of NYSE:BN opened at $60.88 on Monday. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78. The company’s 50 day moving average is $58.44 and its two-hundred day moving average is $54.61. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The company has a market cap of $100.20 billion, a PE ratio of 129.53 and a beta of 1.57.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 1.00% and a return on equity of 3.74%. Equities analysts predict that Brookfield Co. will post 3.83 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s payout ratio is 68.09%.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. TD Securities upped their target price on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. CIBC upped their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Scotiabank upped their target price on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley initiated coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.00.

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.