TIAA Trust National Association Sells 255 Shares of Brookfield Co. (NYSE:BN)

TIAA Trust National Association cut its position in Brookfield Co. (NYSE:BN) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,259 shares of the company’s stock after selling 255 shares during the quarter. TIAA Trust National Association’s holdings in Brookfield were worth $1,221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BN. Vanguard Group Inc. grew its stake in shares of Brookfield by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock worth $3,443,129,000 after purchasing an additional 974,533 shares during the period. CIBC Asset Management Inc grew its holdings in Brookfield by 6.2% in the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the period. EdgePoint Investment Group Inc. raised its stake in shares of Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after buying an additional 196,790 shares during the period. Toronto Dominion Bank increased its holdings in Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Brookfield by 11.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,507,113 shares of the company’s stock valued at $373,527,000 after purchasing an additional 668,630 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 0.3 %

Brookfield stock opened at $54.13 on Friday. The firm has a market capitalization of $89.13 billion, a P/E ratio of 180.42 and a beta of 1.65. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The stock’s fifty day simple moving average is $56.96 and its 200-day simple moving average is $56.12.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, equities analysts expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.67%. Brookfield’s dividend payout ratio (DPR) is 120.00%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BN shares. Morgan Stanley began coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. TD Securities lifted their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Scotiabank increased their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Finally, CIBC upped their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.