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

Principal Securities Inc. reduced its holdings in shares of Brookfield Co. (NYSE:BN) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 73,165 shares of the company’s stock after selling 3,022 shares during the period. Principal Securities Inc.’s holdings in Brookfield were worth $3,889,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC purchased a new stake in Brookfield during the second quarter worth about $31,000. Family Firm Inc. purchased a new stake in Brookfield during the second quarter worth about $36,000. Nisa Investment Advisors LLC boosted its holdings in Brookfield by 63.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after buying an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its holdings in Brookfield by 100.3% during the first quarter. Pittenger & Anderson Inc. now owns 1,238 shares of the company’s stock worth $52,000 after buying an additional 620 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BN. Scotiabank boosted their price objective on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. TD Securities lifted their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $53.31.

Brookfield Stock Performance

NYSE:BN opened at $53.15 on Friday. The firm has a 50 day simple moving average of $51.82 and a 200-day simple moving average of $46.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The firm has a market cap of $87.50 billion, a PE ratio of 91.64 and a beta of 1.54. Brookfield Co. has a 1-year low of $31.05 and a 1-year high of $56.83.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. On average, equities analysts expect that Brookfield Co. will post 3.81 EPS for the current year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. Brookfield’s payout ratio is 55.17%.

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.