Sandy Spring Bank Lowers Stock Position in Brookfield Co. (NYSE:BN)

Sandy Spring Bank cut its position in shares of Brookfield Co. (NYSE:BN) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,415 shares of the company’s stock after selling 3,354 shares during the period. Sandy Spring Bank’s holdings in Brookfield were worth $6,056,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after buying an additional 823,428 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after buying an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after buying an additional 196,790 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after buying an additional 1,301,072 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Brookfield by 11.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,507,113 shares of the company’s stock worth $373,527,000 after buying an additional 668,630 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BN has been the subject of a number of research analyst reports. TD Securities upped their price objective 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. Scotiabank upped their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. CIBC upped their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley initiated coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Price Performance

Shares of NYSE BN opened at $54.12 on Thursday. The firm has a 50-day simple moving average of $57.20 and a 200-day simple moving average of $55.90. The stock has a market capitalization of $89.08 billion, a price-to-earnings ratio of 180.39 and a beta of 1.65. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 13th. The company reported $1.01 EPS 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 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s payout ratio is currently 120.00%.

Brookfield Company 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.