Brookfield Co. (NYSE:BN) Major Shareholder Sells $155,099.25 in Stock

Brookfield Co. (NYSE:BN) major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Brookfield Stock Performance

NYSE BN traded up $0.73 during trading on Friday, reaching $40.96. 3,230,637 shares of the company’s stock were exchanged, compared to its average volume of 2,722,619. The business has a 50 day moving average price of $40.80 and a 200-day moving average price of $37.96. The stock has a market capitalization of $67.26 billion, a P/E ratio of 66.07 and a beta of 1.49. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $43.17.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. Sell-side analysts forecast that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, March 12th. This is a boost from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 0.78%. Brookfield’s dividend payout ratio is presently 51.61%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Securities increased their target price on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a report on Sunday, February 11th. JPMorgan Chase & Co. increased their target price on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 target price on shares of Brookfield in a report on Friday, April 12th. CIBC increased their target price on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Finally, BMO Capital Markets raised their price target on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average price target of $47.45.

Institutional Investors Weigh In On Brookfield

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC bought a new position in shares of Brookfield in the 3rd quarter worth about $25,000. Sunbelt Securities Inc. increased its stake in shares of Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after acquiring an additional 794 shares in the last quarter. Connectus Wealth LLC increased its stake in shares of Brookfield by 1,049.1% in the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after acquiring an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC increased its stake in shares of Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares in the last quarter. Finally, Castleview Partners LLC bought a new position in shares of Brookfield in the 3rd quarter worth about $34,000. 61.60% of the stock is currently owned by institutional investors.

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.