Raymond James Financial Inc. Invests $82.80 Million in Brookfield Co. (NYSE:BN)

Raymond James Financial Inc. acquired a new position in Brookfield Co. (NYSE:BN) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,441,167 shares of the company’s stock, valued at approximately $82,795,000.

Several other large investors have also recently made changes to their positions in BN. Compass Planning Associates Inc purchased a new stake in Brookfield during the 4th quarter worth approximately $30,000. First Personal Financial Services purchased a new stake in Brookfield during the 3rd quarter worth approximately $42,000. FSA Wealth Management LLC purchased a new stake in Brookfield during the 3rd quarter worth approximately $42,000. Prestige Wealth Management Group LLC increased its stake in Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after buying an additional 500 shares during the period. Finally, Continuum Advisory LLC purchased a new stake in Brookfield during the 3rd quarter worth approximately $55,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Down 0.9 %

NYSE BN opened at $52.10 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The firm’s fifty day moving average price is $58.25 and its 200 day moving average price is $55.85. The company has a market capitalization of $85.76 billion, a price-to-earnings ratio of 173.66 and a beta of 1.65. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78.

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

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is 120.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BN shares. 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 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. 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 report on Tuesday, February 11th. Scotiabank increased 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, CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. One investment 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 presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Brookfield Profile

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.