HighTower Advisors LLC Sells 10,636 Shares of Brookfield Co. (NYSE:BN)

HighTower Advisors LLC reduced its position in shares of Brookfield Co. (NYSE:BN) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 188,460 shares of the company’s stock after selling 10,636 shares during the quarter. HighTower Advisors LLC’s holdings in Brookfield were worth $10,827,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in shares of Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after purchasing an additional 823,428 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after purchasing an additional 1,301,072 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Shares of BN opened at $50.42 on Monday. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The business’s 50 day moving average price is $57.49 and its two-hundred day moving average price is $55.88. The firm has a market cap of $82.99 billion, a PE ratio of 168.06 and a beta of 1.65.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, equities analysts anticipate that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently declared 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. This represents a $0.36 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is presently 120.00%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BN. Scotiabank boosted their price target on Brookfield from $69.00 to $71.00 and gave the stock 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 issued an “overweight” rating and a $80.00 price objective on the stock. CIBC lifted their price objective on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Finally, TD Securities lifted their price objective on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.