Maryland State Retirement & Pension System Purchases 30,649 Shares of Brookfield Co. (NYSE:BN)

Maryland State Retirement & Pension System raised its position in shares of Brookfield Co. (NYSE:BN) by 60.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,623 shares of the company’s stock after buying an additional 30,649 shares during the period. Maryland State Retirement & Pension System’s holdings in Brookfield were worth $3,163,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC raised its holdings in shares of Brookfield by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after purchasing an additional 794 shares in the last quarter. Allworth Financial LP lifted its position in shares of Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares during the period. Salem Investment Counselors Inc. bought a new stake in shares of Brookfield during the 1st quarter valued at about $42,000. Finally, GAMMA Investing LLC increased its position in shares of Brookfield by 161.8% during the first quarter. GAMMA Investing LLC now owns 1,047 shares of the company’s stock valued at $44,000 after buying an additional 647 shares during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN opened at $42.53 on Friday. The firm has a market cap of $69.90 billion, a P/E ratio of 69.72 and a beta of 1.52. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $45.11. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. The company has a 50 day moving average of $42.63 and a 200 day moving average of $41.10.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The firm had revenue of $22.91 billion during the quarter. During the same quarter in the prior year, the firm earned $0.72 EPS. As a group, research analysts expect that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. Brookfield’s payout ratio is 52.46%.

Insider Activity

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

Analyst Ratings Changes

Several research firms have weighed in on BN. Royal Bank of Canada cut their price objective on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $46.00 price objective (up previously from $45.00) on shares of Brookfield in a report on Friday, May 10th. Finally, Scotiabank dropped their target price on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a report on Friday, May 10th. Two research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.10.

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.