The Manufacturers Life Insurance Company Has $370.41 Million Stock Holdings in Brookfield Co. (NYSE:BN)

The Manufacturers Life Insurance Company reduced its position in shares of Brookfield Co. (NYSE:BN) by 37.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,917,996 shares of the company’s stock after selling 5,281,502 shares during the period. The Manufacturers Life Insurance Company owned 0.54% of Brookfield worth $370,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors increased its position in Brookfield by 102.2% in the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after buying an additional 24,975,364 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Brookfield in the second quarter worth $128,321,000. M&G Plc bought a new position in Brookfield during the first quarter worth $111,222,000. Wulff Hansen & CO. raised its stake in Brookfield by 4,054.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after purchasing an additional 1,505,372 shares during the last quarter. Finally, Confluence Investment Management LLC bought a new stake in Brookfield in the 1st quarter valued at $55,166,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of BN stock opened at $53.41 on Friday. The stock’s fifty day simple moving average is $47.95 and its 200 day simple moving average is $44.16. Brookfield Co. has a one year low of $28.84 and a one year high of $54.29. The firm has a market cap of $87.87 billion, a price-to-earnings ratio of 87.56 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. On average, analysts expect that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Ratings Changes

Several research analysts have recently issued reports on BN shares. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets upped their target price on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.59.

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.