HB Wealth Management LLC Grows Holdings in Brookfield Co. (NYSE:BN)

HB Wealth Management LLC grew its stake in shares of Brookfield Co. (NYSE:BN) by 56.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,285 shares of the company’s stock after buying an additional 8,037 shares during the quarter. HB Wealth Management LLC’s holdings in Brookfield were worth $926,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BN. International Assets Investment Management LLC bought a new stake in Brookfield in the 4th quarter worth approximately $14,210,000. Gilbert & Cook Inc. lifted its holdings in shares of Brookfield by 5.4% in the 4th quarter. Gilbert & Cook Inc. now owns 35,468 shares of the company’s stock worth $1,423,000 after acquiring an additional 1,833 shares during the last quarter. Choreo LLC bought a new stake in shares of Brookfield in the 4th quarter worth approximately $754,000. Intrust Bank NA bought a new position in shares of Brookfield during the 4th quarter valued at $213,000. Finally, Kestra Private Wealth Services LLC raised its position in Brookfield by 42.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 70,856 shares of the company’s stock worth $2,843,000 after purchasing an additional 21,064 shares during the period. 61.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on BN shares. Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. TD Securities upped their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Scotiabank increased their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $48.88.

Insiders Place Their Bets

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.00% of the stock is currently owned by company insiders.

Brookfield Stock Performance

NYSE BN traded up $0.46 on Thursday, hitting $49.93. 276,066 shares of the company traded hands, compared to its average volume of 3,095,436. The business’s 50 day moving average price is $45.18 and its 200-day moving average price is $42.88. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $50.17. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $82.07 billion, a price-to-earnings ratio of 81.08 and a beta of 1.52.

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 firm had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Equities analysts expect that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is 52.46%.

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.