Brookfield Co. (NYSE:BN) Stock Position Reduced by Intact Investment Management Inc.

Intact Investment Management Inc. cut its stake in shares of Brookfield Co. (NYSE:BN) by 26.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,165,480 shares of the company’s stock after selling 410,740 shares during the period. Brookfield comprises approximately 1.9% of Intact Investment Management Inc.’s holdings, making the stock its 13th largest position. Intact Investment Management Inc. owned approximately 0.07% of Brookfield worth $46,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC bought a new stake in Brookfield in the third quarter worth approximately $25,000. Sunbelt Securities Inc. grew its position in Brookfield by 4,670.6% in the third 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. Allworth Financial LP grew its position in Brookfield by 256.2% in the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after acquiring an additional 638 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Brookfield by 172.3% during the 4th quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock worth $43,000 after buying an additional 679 shares during the period. Finally, Castleview Partners LLC acquired a new position in Brookfield in the 3rd quarter valued at $34,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Canaccord Genuity Group raised their target price on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research note on Friday, February 9th. TD Securities increased their price target on shares of Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a report on Sunday, February 11th. Scotiabank increased their price target on shares of Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.45.

Brookfield Price Performance

Shares of NYSE:BN traded up $0.73 during midday trading on Friday, reaching $40.96. 3,230,696 shares of the company’s stock were exchanged, compared to its average volume of 2,957,519. The company’s 50 day simple moving average is $40.80 and its two-hundred day simple moving average is $37.96. The firm has a market capitalization of $67.26 billion, a PE ratio of 66.07 and a beta of 1.49. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The firm had revenue of $24.52 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $1.12 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts expect that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

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

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.