Franklin Resources Inc. Buys 52,116 Shares of Brookfield Co. (NYSE:BN)

Franklin Resources Inc. boosted its stake in Brookfield Co. (NYSE:BN) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 675,214 shares of the company’s stock after purchasing an additional 52,116 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield were worth $38,761,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Brookfield in the third quarter valued at about $6,485,000. Forsta AP Fonden increased its holdings in shares of Brookfield by 4.9% in the fourth quarter. Forsta AP Fonden now owns 287,200 shares of the company’s stock worth $16,499,000 after acquiring an additional 13,300 shares in the last quarter. Chemistry Wealth Management LLC raised its position in shares of Brookfield by 10.1% during the fourth quarter. Chemistry Wealth Management LLC now owns 252,597 shares of the company’s stock worth $14,512,000 after purchasing an additional 23,159 shares during the period. Finally, Triangle Securities Wealth Management lifted its holdings in shares of Brookfield by 11.2% during the 4th quarter. Triangle Securities Wealth Management now owns 90,137 shares of the company’s stock valued at $5,178,000 after purchasing an additional 9,048 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. CIBC increased their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley assumed coverage on shares of Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective on the stock. Scotiabank boosted their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. Finally, TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Brookfield Stock Down 8.2 %

Shares of BN stock opened at $46.23 on Friday. The firm’s fifty day moving average price is $56.03 and its two-hundred day moving average price is $56.28. 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 1 year low of $38.18 and a 1 year high of $62.78. The firm has a market capitalization of $76.13 billion, a P/E ratio of 154.12 and a beta of 1.60.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, equities analysts predict that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, March 14th. Brookfield’s payout ratio is presently 120.00%.

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.