Truist Financial Corp Increases Stock Holdings in Brookfield Co. (NYSE:BN)

Truist Financial Corp raised its holdings in shares of Brookfield Co. (NYSE:BN) by 140.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 311,449 shares of the company’s stock after purchasing an additional 181,950 shares during the quarter. Truist Financial Corp’s holdings in Brookfield were worth $17,893,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc grew its stake in Brookfield by 6.2% during the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in Brookfield by 14.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock valued at $90,000 after purchasing an additional 203 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Brookfield by 8.8% during the 4th quarter. Sanctuary Advisors LLC now owns 43,674 shares of the company’s stock valued at $2,715,000 after purchasing an additional 3,514 shares in the last quarter. Baillie Gifford & Co. grew its stake in Brookfield by 809.5% during the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after purchasing an additional 3,271,403 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC grew its stake in Brookfield by 0.9% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 145,497 shares of the company’s stock valued at $8,359,000 after purchasing an additional 1,293 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of NYSE BN opened at $60.53 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $99.64 billion, a price-to-earnings ratio of 201.76 and a beta of 1.57. The stock’s fifty day simple moving average is $58.53 and its 200 day simple moving average is $54.86. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, sell-side analysts forecast that Brookfield Co. will post 3.9 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s payout ratio is 106.67%.

Analyst Ratings Changes

Several brokerages have recently commented on BN. CIBC lifted their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank lifted their target price on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities lifted their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley assumed coverage on Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Brookfield 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.