Raymond James & Associates Sells 18,544 Shares of Brookfield Co. (NYSE:BN)

Raymond James & Associates decreased its holdings in shares of Brookfield Co. (NYSE:BN) by 1.3% in the first quarter, HoldingsChannel reports. The fund owned 1,427,792 shares of the company’s stock after selling 18,544 shares during the quarter. Raymond James & Associates’ holdings in Brookfield were worth $59,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BN. FinTrust Capital Advisors LLC purchased a new position in shares of Brookfield during the 3rd quarter valued at $25,000. Sunbelt Securities Inc. raised its holdings in Brookfield by 4,670.6% during the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after acquiring an additional 794 shares during the period. Connectus Wealth LLC lifted its position in shares of Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after acquiring an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC boosted its stake in shares of Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the period. Finally, Castleview Partners LLC purchased a new stake in shares of Brookfield during the third quarter worth about $34,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the transaction, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total value 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 disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Brookfield Stock Up 2.4 %

NYSE BN traded up $0.98 during trading on Friday, reaching $42.63. 3,873,439 shares of the company’s stock traded hands, compared to its average volume of 3,520,128. The company’s 50 day simple moving average is $40.87 and its two-hundred day simple moving average is $38.26. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $43.17. The firm has a market cap of $70.00 billion, a price-to-earnings ratio of 68.76 and a beta of 1.48. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $24.52 billion during the quarter, compared to the consensus estimate of $1.15 billion. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. Brookfield’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, sell-side analysts forecast that Brookfield Co. will post 3.75 EPS for the current fiscal 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 given a dividend of $0.08 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. Brookfield’s dividend payout ratio is presently 51.61%.

Analyst Ratings Changes

A number of research analysts recently commented on BN shares. Scotiabank boosted their price target on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. TD Securities boosted their price objective on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research note on Sunday, February 11th. CIBC lifted their price objective on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. BMO Capital Markets raised their price objective on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada reduced their price target on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $47.25.

Brookfield 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.