Allspring Global Investments Holdings LLC Decreases Stock Holdings in Brookfield Co. (NYSE:BN)

Allspring Global Investments Holdings LLC lowered its position in shares of Brookfield Co. (NYSE:BN) by 37.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 89,053 shares of the company’s stock after selling 53,165 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Brookfield were worth $3,729,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. M&T Bank Corp lifted its stake in Brookfield by 3.3% in the fourth quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock worth $400,000 after acquiring an additional 314 shares during the period. Fortis Group Advisors LLC boosted its stake in shares of Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Brookfield by 5.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 7,334 shares of the company’s stock valued at $294,000 after purchasing an additional 372 shares in the last quarter. Lincoln National Corp increased its position in shares of Brookfield by 6.4% during the fourth quarter. Lincoln National Corp now owns 6,927 shares of the company’s stock valued at $278,000 after buying an additional 419 shares during the period. Finally, RE Dickinson Investment Advisors LLC raised its stake in Brookfield by 6.2% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 7,313 shares of the company’s stock worth $293,000 after buying an additional 430 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

BN has been the topic of several research reports. Scotiabank cut their price objective on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research report on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $46.00 price target (up from $45.00) on shares of Brookfield in a research note on Friday, May 10th. Finally, Royal Bank of Canada decreased their price objective on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.10.

Insider Activity at Brookfield

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the transaction, the director now 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 is accessible through this link. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.

Brookfield Stock Performance

Shares of BN stock traded up $0.51 on Tuesday, reaching $41.44. The stock had a trading volume of 417,455 shares, compared to its average volume of 3,145,773. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $45.11. The stock has a market cap of $68.11 billion, a P/E ratio of 67.12 and a beta of 1.52. The company has a 50 day simple moving average of $42.46 and a 200 day simple moving average of $41.02.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The business had revenue of $22.91 billion for the quarter. During the same period in the previous year, the business posted $0.72 earnings per share. Equities research analysts expect that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Thursday, June 13th. Brookfield’s dividend payout ratio is presently 52.46%.

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.