Advisory Services Network LLC Sells 11,683 Shares of Brookfield Co. (NYSE:BN)

Advisory Services Network LLC cut its holdings in Brookfield Co. (NYSE:BN) by 42.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,820 shares of the company’s stock after selling 11,683 shares during the period. Advisory Services Network LLC’s holdings in Brookfield were worth $909,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BN. FIL Ltd boosted its holdings in Brookfield by 8.8% in the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company’s stock valued at $1,169,912,000 after purchasing an additional 1,640,903 shares during the period. Ilmarinen Mutual Pension Insurance Co raised its position in shares of Brookfield by 36.7% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 205,000 shares of the company’s stock valued at $11,771,000 after buying an additional 55,000 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Brookfield by 24.1% in the fourth quarter. Russell Investments Group Ltd. now owns 727,020 shares of the company’s stock valued at $41,735,000 after buying an additional 141,040 shares during the period. Envestnet Asset Management Inc. grew its position in Brookfield by 8.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,948,797 shares of the company’s stock worth $111,959,000 after buying an additional 159,685 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in Brookfield by 17.4% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 412,138 shares of the company’s stock valued at $23,677,000 after acquiring an additional 61,182 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BN shares. Scotiabank decreased their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a report on Monday, April 7th. Morgan Stanley started coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. TD Securities increased their price objective on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, CIBC upped their target price 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 analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.63.

Brookfield Price Performance

Shares of Brookfield stock opened at $48.60 on Monday. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The firm’s 50-day moving average price is $54.22 and its two-hundred day moving average price is $56.05. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $80.03 billion, a price-to-earnings ratio of 162.01 and a beta of 1.60.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share 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 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, March 14th. Brookfield’s dividend payout ratio is currently 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.