16,956,500 Shares in Brookfield Co. (NYSE:BN) Purchased by Norges Bank

Norges Bank acquired a new stake in Brookfield Co. (NYSE:BN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,956,500 shares of the company’s stock, valued at approximately $973,591,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Compass Planning Associates Inc bought a new position in shares of Brookfield in the fourth quarter worth $30,000. FSA Wealth Management LLC acquired a new position in Brookfield during the third quarter valued at approximately $42,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Brookfield during the fourth quarter valued at approximately $48,000. Prestige Wealth Management Group LLC lifted its stake in Brookfield by 137.0% during the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares during the last quarter. Finally, Promus Capital LLC bought a new position in shares of Brookfield in the 4th quarter valued at $55,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Trading Down 0.3 %

BN opened at $54.13 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The company’s 50 day moving average price is $56.96 and its two-hundred day moving average price is $56.12. The firm has a market capitalization of $89.13 billion, a price-to-earnings ratio of 180.42 and a beta of 1.65.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. As a group, research analysts predict that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.67%. Brookfield’s payout ratio is 120.00%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. CIBC raised their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley began coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. Scotiabank upped their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Finally, TD Securities boosted their target price on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

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.