Norden Group LLC Has $5.65 Million Holdings in Brookfield Co. (NYSE:BN)

Norden Group LLC raised its position in Brookfield Co. (NYSE:BN) by 2,342.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134,920 shares of the company’s stock after buying an additional 129,395 shares during the period. Norden Group LLC’s holdings in Brookfield were worth $5,649,000 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. LPL Financial LLC lifted its position in shares of Brookfield by 13.2% during the third quarter. LPL Financial LLC now owns 193,329 shares of the company’s stock worth $6,045,000 after purchasing an additional 22,475 shares in the last quarter. Northern Trust Corp lifted its position in shares of Brookfield by 5.2% during the third quarter. Northern Trust Corp now owns 922,052 shares of the company’s stock worth $28,833,000 after purchasing an additional 45,911 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Brookfield by 32.3% during the third quarter. Quadrature Capital Ltd now owns 27,606 shares of the company’s stock worth $863,000 after purchasing an additional 6,739 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Brookfield by 10.8% during the third quarter. Ameriprise Financial Inc. now owns 3,344,907 shares of the company’s stock worth $105,725,000 after purchasing an additional 326,064 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in shares of Brookfield by 341.4% during the third quarter. Lido Advisors LLC now owns 33,663 shares of the company’s stock worth $1,053,000 after purchasing an additional 26,036 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BN. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $46.00 target price (up from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Royal Bank of Canada reduced their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Scotiabank dropped their price target on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.10.

Insider Buying and Selling at Brookfield

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were 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 accessible through this hyperlink. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Brookfield Stock Up 2.4 %

Shares of NYSE:BN opened at $43.05 on Friday. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $45.11. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17. The company has a market capitalization of $70.76 billion, a PE ratio of 70.57 and a beta of 1.52. The company has a 50 day moving average price of $42.60 and a two-hundred day moving average price of $41.08.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The firm had revenue of $22.91 billion during the quarter. During the same period in the previous year, the company posted $0.72 EPS. Analysts forecast that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield’s payout ratio is presently 52.46%.

Brookfield Company 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.