Algert Global LLC Acquires 1,583 Shares of Brookfield Co. (NYSE:BN)

Algert Global LLC boosted its holdings in Brookfield Co. (NYSE:BN) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,387 shares of the company’s stock after acquiring an additional 1,583 shares during the quarter. Algert Global LLC’s holdings in Brookfield were worth $1,802,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new stake in Brookfield in the 4th quarter worth about $30,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Brookfield during the fourth quarter valued at approximately $48,000. Transce3nd LLC bought a new stake in Brookfield during the fourth quarter worth $51,000. Promus Capital LLC bought a new position in Brookfield in the 4th quarter valued at $55,000. Finally, Pinnacle Bancorp Inc. increased its position in shares of Brookfield by 29.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN opened at $56.73 on Friday. Brookfield Co. has a 52-week low of $39.97 and a 52-week high of $62.78. The stock’s 50-day simple moving average is $51.71 and its 200 day simple moving average is $55.86. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The stock has a market capitalization of $93.46 billion, a price-to-earnings ratio of 189.11 and a beta of 1.64.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Research analysts forecast that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.63%. Brookfield’s dividend payout ratio (DPR) is presently 120.00%.

Analysts Set New Price Targets

Several research firms recently weighed in on BN. Morgan Stanley reduced their price target on shares of Brookfield from $83.00 to $61.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Scotiabank dropped their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. CIBC lowered their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research note on Friday. Finally, TD Securities cut their price target on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

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.