Sumitomo Mitsui Trust Holdings Inc. Sells 16,095 Shares of Brookfield Co. (NYSE:BN)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of Brookfield Co. (NYSE:BN) by 0.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 3,243,771 shares of the company’s stock after selling 16,095 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.20% of Brookfield worth $135,818,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fortis Group Advisors LLC increased its holdings in Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after purchasing an additional 794 shares in the last quarter. Allworth Financial LP increased its holdings in Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares in the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Brookfield in the 1st quarter valued at about $42,000. Finally, GAMMA Investing LLC grew its position in shares of Brookfield by 161.8% in the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the company’s stock valued at $44,000 after buying an additional 647 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the sale, the director now directly owns 10,779,668 shares in the company, valued at $128,278,049.20. The sale was disclosed in a filing 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 firm’s stock in a transaction dated Wednesday, April 24th. The shares were 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 available at the SEC website. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Brookfield Stock Up 1.9 %

BN traded up $0.80 during trading on Wednesday, hitting $42.86. 407,176 shares of the company’s stock traded hands, compared to its average volume of 3,135,305. The company’s 50 day simple moving average is $42.49 and its two-hundred day simple moving average is $41.05. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $45.11. The stock has a market capitalization of $70.45 billion, a price-to-earnings ratio of 68.97 and a beta of 1.52.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $22.91 billion for the quarter. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. During the same period in the previous year, the company earned $0.72 earnings per share. Analysts predict that Brookfield Co. will post 3.35 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield’s payout ratio is 52.46%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BN. Scotiabank lowered their price objective on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Royal Bank of Canada decreased their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $46.00 target price (up from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Two 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’s stock. According to MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $48.10.

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.