Allspring Global Investments Holdings LLC Sells 37,271 Shares of Brookfield Co. (NYSE:BN)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Brookfield Co. (NYSE:BN) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 142,218 shares of the company’s stock after selling 37,271 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Brookfield were worth $5,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BN. TIAA FSB bought a new stake in Brookfield in the 4th quarter valued at $799,000. Triasima Portfolio Management inc. bought a new stake in shares of Brookfield in the fourth quarter valued at about $37,672,000. Victory Capital Management Inc. bought a new stake in shares of Brookfield in the fourth quarter valued at about $1,548,000. American Century Companies Inc. acquired a new stake in Brookfield during the fourth quarter worth about $1,483,000. Finally, Barclays PLC bought a new position in Brookfield during the fourth quarter valued at about $748,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BN. JPMorgan Chase & Co. boosted their price objective on Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. TheStreet raised shares of Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Scotiabank raised their price objective on shares of Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. CIBC upped their target price on shares of Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Finally, Canaccord Genuity Group increased their price target on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.45.

Insider Buying and Selling

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were 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 directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.00% of the stock is owned by corporate insiders.

Brookfield Price Performance

Shares of Brookfield stock opened at $38.57 on Friday. The stock has a market capitalization of $63.33 billion, a price-to-earnings ratio of 62.21 and a beta of 1.49. The firm’s 50-day moving average price is $40.81 and its two-hundred day moving average price is $37.55. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $43.17.

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

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. Brookfield’s payout ratio is currently 51.61%.

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.