Lake Street Advisors Group LLC Takes $210,000 Position in Brookfield Co. (NYSE:BN)

Lake Street Advisors Group LLC acquired a new stake in shares of Brookfield Co. (NYSE:BN) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,654 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors also recently bought and sold shares of BN. Baillie Gifford & Co. increased its holdings in Brookfield by 809.5% during the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after buying an additional 3,271,403 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after buying an additional 2,818,716 shares during the period. Toronto Dominion Bank increased its holdings in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares during the period. CIBC Asset Management Inc increased its holdings in Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after buying an additional 823,428 shares during the period. Finally, Bamco Inc. NY increased its holdings in Brookfield by 62.6% during the third quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock valued at $103,614,000 after buying an additional 750,726 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Brookfield Price Performance

Shares of BN opened at $57.88 on Friday. The firm has a market capitalization of $95.28 billion, a PE ratio of 192.94 and a beta of 1.57. 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 1-year low of $38.18 and a 1-year high of $62.78. The company’s fifty day moving average price is $58.60 and its 200-day moving average price is $55.46.

Brookfield (NYSE:BN) last announced 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 0.75% and a return on equity of 3.93%. On average, equities research analysts predict that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is presently 120.00%.

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.