Private Management Group Inc. Sells 15,921 Shares of Brookfield Co. (NYSE:BN)

Private Management Group Inc. lowered its holdings in shares of Brookfield Co. (NYSE:BN) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 677,857 shares of the company’s stock after selling 15,921 shares during the quarter. Private Management Group Inc.’s holdings in Brookfield were worth $27,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BN. Eldred Rock Partners LLC bought a new stake in shares of Brookfield during the fourth quarter valued at approximately $9,868,000. Private Trust Co. NA lifted its holdings in shares of Brookfield by 30.5% in the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after buying an additional 480 shares during the period. JPMorgan Chase & Co. grew its position in shares of Brookfield by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after buying an additional 273,474 shares in the last quarter. Northside Capital Management LLC purchased a new position in shares of Brookfield during the fourth quarter valued at $229,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Brookfield during the third quarter valued at $23,667,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research reports. Scotiabank raised their target price on shares of Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. TheStreet raised Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Canaccord Genuity Group raised their price objective on Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, TD Securities increased their price target on shares of Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a research report on Sunday, February 11th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.45.

Brookfield Stock Performance

BN stock traded up $0.76 during trading on Tuesday, reaching $40.37. The company had a trading volume of 2,126,065 shares, compared to its average volume of 2,724,244. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $43.17. The company has a market cap of $66.29 billion, a price-to-earnings ratio of 65.11 and a beta of 1.49. The firm has a 50-day simple moving average of $40.78 and a 200-day simple moving average of $37.85.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the firm earned $1.12 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts expect that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a dividend of $0.08 per share. This is an increase from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. Brookfield’s payout ratio is 51.61%.

Insider Activity at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is owned by insiders.

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.