Principal Securities Inc. Lowers Stake in Brookfield Co. (NYSE:BN)

Principal Securities Inc. cut its position in Brookfield Co. (NYSE:BN) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,528 shares of the company’s stock after selling 4,637 shares during the period. Principal Securities Inc.’s holdings in Brookfield were worth $3,937,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMS Capital Ltda purchased a new stake in shares of Brookfield during the fourth quarter worth about $5,529,000. Van ECK Associates Corp purchased a new stake in Brookfield during the 4th quarter valued at approximately $341,000. Louisbourg Investments Inc. grew its holdings in Brookfield by 18.3% during the 4th quarter. Louisbourg Investments Inc. now owns 196,124 shares of the company’s stock valued at $11,267,000 after buying an additional 30,287 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Brookfield by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company’s stock valued at $4,520,000 after buying an additional 974 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Brookfield by 5.1% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 14,922 shares of the company’s stock worth $857,000 after buying an additional 719 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

NYSE BN opened at $60.88 on Monday. The business’s 50 day moving average price is $58.44 and its 200-day moving average price is $54.61. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The company has a market cap of $100.20 billion, a P/E ratio of 129.53 and a beta of 1.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 1.00% and a return on equity of 3.74%. Sell-side analysts predict that Brookfield Co. will post 3.83 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.59%. Brookfield’s payout ratio is 68.09%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Scotiabank lifted their price target on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. TD Securities increased their price target on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley began coverage on Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective on the stock. Finally, CIBC raised their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.