CIBC Private Wealth Group LLC Lowers Position in Brookfield Co. (NYSE:BN)

CIBC Private Wealth Group LLC reduced its position in shares of Brookfield Co. (NYSE:BN) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,409,411 shares of the company’s stock after selling 17,061 shares during the period. CIBC Private Wealth Group LLC’s holdings in Brookfield were worth $140,661,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BN. Haverford Trust Co increased its position in Brookfield by 4.7% during the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company’s stock worth $247,000 after purchasing an additional 192 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Brookfield by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company’s stock worth $955,000 after acquiring an additional 197 shares during the period. Pittenger & Anderson Inc. raised its position in Brookfield by 14.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock worth $90,000 after acquiring an additional 203 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after acquiring an additional 221 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Brookfield by 5.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock worth $250,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 4.4 %

Shares of NYSE:BN opened at $51.77 on Friday. The company has a market capitalization of $85.25 billion, a P/E ratio of 172.57 and a beta of 1.65. The stock’s fifty day simple moving average is $56.83 and its 200-day simple moving average is $56.21. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) 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, equities research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.70%. Brookfield’s payout ratio is currently 120.00%.

Analysts Set New Price Targets

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