Brookfield Co. (NYSE:BN) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in Brookfield Co. (NYSE:BN) by 27.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,174,692 shares of the company’s stock after selling 2,705,239 shares during the period. Legal & General Group Plc owned approximately 0.44% of Brookfield worth $412,167,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BN. Norges Bank acquired a new position in shares of Brookfield during the 4th quarter valued at $973,591,000. Baillie Gifford & Co. raised its position in Brookfield by 809.5% in the fourth 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 during the period. Regents of The University of California acquired a new position in shares of Brookfield during the fourth quarter worth about $154,140,000. Geode Capital Management LLC boosted its position in shares of Brookfield by 32.0% in the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock worth $460,489,000 after buying an additional 1,930,218 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Brookfield in the fourth quarter valued at about $82,795,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN stock opened at $45.80 on Tuesday. The firm has a market cap of $75.42 billion, a P/E ratio of 152.67 and a beta of 1.60. The firm has a fifty day moving average of $55.74 and a two-hundred day moving average of $56.28. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.01 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, research analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed 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. This represents a $0.36 annualized dividend and a yield of 0.79%. The ex-dividend date was Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is presently 120.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Scotiabank reduced their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Monday. TD Securities boosted their target price on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley initiated coverage on shares of Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target for the company. Finally, CIBC boosted their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.63.

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.