21,910 Shares in Brookfield Co. (NYSE:BN) Purchased by Summit Global Investments

Summit Global Investments acquired a new stake in shares of Brookfield Co. (NYSE:BN) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,910 shares of the company’s stock, valued at approximately $910,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Mckinley Capital Management LLC raised its holdings in shares of Brookfield by 0.9% in the 1st quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock valued at $1,367,000 after purchasing an additional 283 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Brookfield by 4.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock valued at $277,000 after purchasing an additional 288 shares in the last quarter. Pembroke Management LTD raised its holdings in shares of Brookfield by 4.4% in the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Brookfield by 3.3% in the 4th quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock valued at $400,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Insider Buying and Selling

In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction dated 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 sale, the director now directly 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 company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BN. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. TD Securities upped their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada cut their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank raised their price target on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $48.88.

Brookfield Trading Down 0.6 %

Brookfield stock traded down $0.26 during midday trading on Tuesday, hitting $46.69. 862,900 shares of the stock were exchanged, compared to its average volume of 3,145,285. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $49.44. The stock has a market capitalization of $76.74 billion, a price-to-earnings ratio of 76.54 and a beta of 1.52. The stock’s 50-day simple moving average is $44.29 and its 200 day simple moving average is $42.52. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The firm had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the business earned $0.75 earnings per share. Brookfield’s revenue was down 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s payout ratio is currently 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.