Brookfield Co. (NYSE:BN) Shares Purchased by Citigroup Inc.

Citigroup Inc. lifted its holdings in Brookfield Co. (NYSE:BN) by 7.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,683 shares of the company’s stock after purchasing an additional 27,014 shares during the quarter. Citigroup Inc.’s holdings in Brookfield were worth $13,775,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Money Concepts Capital Corp acquired a new stake in shares of Brookfield in the 4th quarter worth $34,000. Venturi Wealth Management LLC purchased a new position in Brookfield in the 1st quarter worth $41,000. Milestone Investment Advisors LLC purchased a new position in Brookfield in the 1st quarter worth $52,000. WASHINGTON TRUST Co purchased a new position in Brookfield in the 1st quarter worth $61,000. Finally, SouthState Corp purchased a new position in Brookfield in the 1st quarter worth $65,000. Institutional investors and hedge funds own 58.22% of the company’s stock.

Brookfield Stock Performance

NYSE BN opened at $34.60 on Tuesday. The stock has a 50-day moving average of $32.28 and a 200 day moving average of $32.64. Brookfield Co. has a twelve month low of $28.25 and a twelve month high of $47.53. The stock has a market capitalization of $56.71 billion, a price-to-earnings ratio of -1,153.33 and a beta of 1.45. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 1.34.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, November 9th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Brookfield had a return on equity of 2.23% and a net margin of 0.12%. The business had revenue of $24.44 billion during the quarter, compared to analysts’ expectations of $1.07 billion.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.81%. Brookfield’s payout ratio is currently -933.33%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BN. Scotiabank reduced their target price on Brookfield from $47.50 to $45.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. CIBC decreased their price objective on Brookfield from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Royal Bank of Canada decreased their price objective on Brookfield from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, October 24th. TD Securities boosted their price objective on Brookfield from $54.00 to $55.00 and gave the company an “action list buy” rating in a report on Sunday, November 12th. Finally, CSFB decreased their price objective on Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 31st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $43.78.

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.