Chicago Capital LLC Purchases Shares of 56,363 Brookfield Co. (NYSE:BN)

Chicago Capital LLC bought a new stake in Brookfield Co. (NYSE:BN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,363 shares of the company’s stock, valued at approximately $2,341,000.

Other institutional investors have also bought and sold shares of the company. Capital World Investors grew its position in shares of Brookfield by 102.2% during the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after buying an additional 24,975,364 shares during the period. Norges Bank acquired a new stake in Brookfield in the fourth quarter worth $614,104,000. TD Asset Management Inc increased its stake in Brookfield by 16.2% in the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock valued at $1,069,892,000 after purchasing an additional 3,702,266 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Brookfield during the second quarter valued at about $128,321,000. Finally, M&G Plc acquired a new position in shares of Brookfield during the first quarter valued at about $111,222,000. Institutional investors own 61.60% of the company’s stock.

Insider Activity at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is currently owned by corporate insiders.

Brookfield Stock Performance

Shares of Brookfield stock traded down $1.03 during trading hours on Friday, hitting $46.13. 2,916,731 shares of the company’s stock traded hands, compared to its average volume of 3,102,887. The stock has a market capitalization of $75.82 billion, a price-to-earnings ratio of 75.61 and a beta of 1.53. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $50.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The company has a fifty day simple moving average of $46.19 and a 200-day simple moving average of $43.26.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. Equities research analysts anticipate that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Ratings Changes

A number of brokerages recently commented on BN. JPMorgan Chase & Co. boosted their target price on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada decreased their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Scotiabank upped their target price on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.84.

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.