Brookfield Co. (NYSE:BN) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in Brookfield Co. (NYSE:BN) by 7.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,494,160 shares of the company’s stock after selling 193,458 shares during the period. Massachusetts Financial Services Co. MA owned about 0.15% of Brookfield worth $143,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Brookfield by 32.0% in the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock valued at $460,489,000 after acquiring an additional 1,930,218 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Brookfield by 8.4% in the fourth quarter. Franklin Resources Inc. now owns 675,214 shares of the company’s stock valued at $38,761,000 after purchasing an additional 52,116 shares in the last quarter. Summit Financial LLC increased its stake in Brookfield by 622.4% during the 4th quarter. Summit Financial LLC now owns 27,508 shares of the company’s stock worth $1,580,000 after buying an additional 23,700 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Brookfield by 2.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 309,257 shares of the company’s stock worth $17,757,000 after buying an additional 7,772 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Brookfield by 29.4% in the 4th quarter. Clearbridge Investments LLC now owns 2,222,358 shares of the company’s stock valued at $127,674,000 after buying an additional 505,441 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on BN. Morgan Stanley assumed coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. TD Securities lifted their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Scotiabank boosted their price objective on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Finally, CIBC raised their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Stock Down 8.2 %

Shares of NYSE:BN opened at $46.23 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The firm has a 50 day simple moving average of $56.03 and a 200-day simple moving average of $56.24. The company has a market capitalization of $76.13 billion, a PE ratio of 154.12 and a beta of 1.65. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, equities analysts predict that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. Brookfield’s dividend payout ratio is presently 120.00%.

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.