Diversify Wealth Management LLC Sells 669 Shares of Brookfield Co. (NYSE:BN)

Diversify Wealth Management LLC lowered its stake in Brookfield Co. (NYSE:BN) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,048 shares of the company’s stock after selling 669 shares during the quarter. Diversify Wealth Management LLC’s holdings in Brookfield were worth $381,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BN. Vanguard Group Inc. raised its holdings in shares of Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after purchasing an additional 1,063,110 shares during the last quarter. Capital World Investors raised its holdings in shares of Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after purchasing an additional 2,497,509 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Brookfield by 1.3% in the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of Brookfield by 5.0% in the second quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after purchasing an additional 269,813 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Brookfield by 3.7% in the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock valued at $134,629,000 after purchasing an additional 113,241 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on BN shares. Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Scotiabank boosted their target price on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Royal Bank of Canada lowered 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

Brookfield Trading Up 0.3 %

BN stock opened at $53.15 on Friday. 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 company has a fifty day moving average price of $51.82 and a two-hundred day moving average price of $46.46. Brookfield Co. has a one year low of $31.05 and a one year high of $56.83. The stock has a market cap of $87.50 billion, a price-to-earnings ratio of 91.64 and a beta of 1.54.

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

Brookfield Dividend Announcement

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

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.