DekaBank Deutsche Girozentrale Sells 12,888 Shares of Brookfield Co. (NYSE:BN)

DekaBank Deutsche Girozentrale cut its stake in shares of Brookfield Co. (NYSE:BN) by 5.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,922 shares of the company’s stock after selling 12,888 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Brookfield were worth $9,735,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BN. Connectus Wealth LLC increased its holdings in shares of Brookfield by 1,049.1% in the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC lifted its stake in 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 acquiring an additional 337 shares during the period. Allworth Financial LP lifted its stake in Brookfield by 256.2% during the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after acquiring an additional 638 shares during the period. Salem Investment Counselors Inc. purchased a new stake in shares of Brookfield during the 1st quarter valued at about $42,000. Finally, Oakworth Capital Inc. grew its stake in shares of Brookfield by 172.3% in the fourth quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock worth $43,000 after acquiring an additional 679 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Insider Buying and Selling

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were 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 $128,278,049.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BN. Royal Bank of Canada lowered their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday. Scotiabank lifted their price objective on Brookfield from $49.50 to $50.50 and gave the stock an “outperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered their target price on Brookfield from $46.00 to $44.00 and set a “market perform” rating on the stock in a report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Brookfield Stock Performance

Shares of NYSE BN traded down $2.22 during trading on Friday, hitting $45.36. The company had a trading volume of 2,942,713 shares, compared to its average volume of 3,842,055. The stock has a 50 day simple moving average of $43.67 and a 200 day simple moving average of $42.06. The firm has a market capitalization of $74.57 billion, a P/E ratio of 74.36 and a beta of 1.52. 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 12 month low of $28.84 and a 12 month high of $49.44.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The firm had revenue of $22.91 billion during the quarter. During the same period last year, the company earned $0.72 earnings per share. As a group, analysts anticipate that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

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.