Zurcher Kantonalbank Zurich Cantonalbank Purchases 17,153 Shares of Brookfield Co. (NYSE:BN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Brookfield Co. (NYSE:BN) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436,205 shares of the company’s stock after buying an additional 17,153 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield were worth $17,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BN. Brookfield Corp ON boosted its position in Brookfield by 1.4% during the first quarter. Brookfield Corp ON now owns 133,723,524 shares of the company’s stock valued at $4,358,050,000 after purchasing an additional 1,835,778 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new stake in Brookfield during the fourth quarter valued at about $3,727,998,000. Principal Financial Group Inc. boosted its position in Brookfield by 8.9% during the third quarter. Principal Financial Group Inc. now owns 63,734,864 shares of the company’s stock valued at $1,993,867,000 after purchasing an additional 5,192,256 shares in the last quarter. Vanguard Group Inc. boosted its position in Brookfield by 1.9% during the third quarter. Vanguard Group Inc. now owns 55,429,678 shares of the company’s stock valued at $1,733,286,000 after purchasing an additional 1,016,222 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Brookfield during the fourth quarter valued at about $775,028,000. Institutional investors own 61.60% of the company’s stock.

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 that occurred on 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 directly 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised 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. TD Securities raised their price target on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a report on Sunday, February 11th. CIBC raised their price target on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price target on shares of Brookfield in a report on Friday, April 12th. Finally, TheStreet raised Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Two investment 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.45.

Brookfield Trading Down 1.1 %

Brookfield stock opened at $38.57 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $43.17. The company has a market capitalization of $63.33 billion, a price-to-earnings ratio of 62.21 and a beta of 1.49. The stock has a 50-day moving average price of $40.81 and a 200 day moving average price of $37.55.

Brookfield (NYSE:BN) last released its 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. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Brookfield Co. will post 3.75 EPS 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 was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.83%. Brookfield’s payout ratio is 51.61%.

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.