Marks Group Wealth Management Inc Sells 1,077 Shares of Brookfield Co. (NYSE:BN)

Marks Group Wealth Management Inc lowered its holdings in Brookfield Co. (NYSE:BN) by 5.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,269 shares of the company’s stock after selling 1,077 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Brookfield were worth $918,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC purchased a new position in shares of Brookfield during the 2nd quarter worth approximately $31,000. Family Firm Inc. bought a new position in shares of Brookfield in the 2nd quarter worth approximately $36,000. Nisa Investment Advisors LLC grew its stake in Brookfield by 63.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after purchasing an additional 450 shares during the period. Finally, Asset Dedication LLC bought a new position in Brookfield in the second quarter worth $56,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

BN stock opened at $56.97 on Thursday. The stock’s 50 day simple moving average is $52.03 and its 200 day simple moving average is $46.79. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 12-month low of $31.43 and a 12-month high of $57.42. The stock has a market capitalization of $93.79 billion, a PE ratio of 98.23 and a beta of 1.53.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, research analysts forecast that Brookfield Co. will post 3.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada cut their price objective 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. JPMorgan Chase & Co. lifted 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. Scotiabank boosted their price target on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

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.