Raymond James & Associates Sells 36,158 Shares of Brookfield Co. (NYSE:BN)

Raymond James & Associates cut its stake in Brookfield Co. (NYSE:BN) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,446,336 shares of the company’s stock after selling 36,158 shares during the quarter. Raymond James & Associates owned 0.09% of Brookfield worth $58,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Scharf Investments LLC grew its stake in shares of Brookfield by 0.3% in the fourth quarter. Scharf Investments LLC now owns 5,107,826 shares of the company’s stock worth $204,939,000 after acquiring an additional 16,065 shares during the period. Chemistry Wealth Management LLC grew its position in Brookfield by 4.0% during the fourth quarter. Chemistry Wealth Management LLC now owns 199,653 shares of the company’s stock valued at $8,010,000 after buying an additional 7,691 shares during the period. Parkside Investments LLC grew its position in Brookfield by 0.9% during the fourth quarter. Parkside Investments LLC now owns 210,415 shares of the company’s stock valued at $8,442,000 after buying an additional 1,959 shares during the period. Epiq Partners LLC grew its position in Brookfield by 1.7% during the fourth quarter. Epiq Partners LLC now owns 75,170 shares of the company’s stock valued at $3,016,000 after buying an additional 1,280 shares during the period. Finally, Grey Street Capital LLC bought a new stake in Brookfield during the fourth quarter valued at approximately $233,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

BN stock opened at $41.58 on Thursday. Brookfield Co. has a one year low of $28.84 and a one year high of $43.17. The company’s fifty day moving average price is $40.76 and its 200-day moving average price is $36.87. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. The company has a market capitalization of $68.21 billion, a PE ratio of 67.06 and a beta of 1.49.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.69 by $0.14. The firm had revenue of $24.52 billion for 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%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, equities analysts anticipate that Brookfield Co. will post 3.75 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be paid 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 is Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.77%. Brookfield’s dividend payout ratio is presently 51.61%.

Insider Activity at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’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 sale, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Brookfield news, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $2.20, for a total transaction of $8,630,129.20. Following the transaction, the insider now owns 23,352,826 shares in the company, valued at $51,376,217.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’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 transaction, the director now owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Canaccord Genuity Group lifted their price target on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a report on Friday, February 9th. CIBC lifted their price target on shares of Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Scotiabank lifted their price target on shares of Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a report on Friday, February 9th. Finally, Royal Bank of Canada lifted their price target on shares of Brookfield from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.45.

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.