Private Management Group Inc. Sells 10,112 Shares of Brookfield Co. (NYSE:BN)

Private Management Group Inc. reduced its stake in Brookfield Co. (NYSE:BN) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 584,013 shares of the company’s stock after selling 10,112 shares during the quarter. Brookfield comprises approximately 1.2% of Private Management Group Inc.’s holdings, making the stock its 17th largest position. Private Management Group Inc.’s holdings in Brookfield were worth $33,552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after acquiring an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares in the last quarter. Toronto Dominion Bank grew its position in Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after purchasing an additional 1,301,072 shares during the last quarter. Geode Capital Management LLC increased its stake in Brookfield by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after buying an additional 351,231 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. CIBC lifted their price objective on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Scotiabank raised their price target on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday. Finally, Morgan Stanley assumed coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Brookfield Stock Performance

NYSE BN opened at $59.66 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The business has a 50-day moving average price of $58.61 and a 200-day moving average price of $53.95. The firm has a market cap of $98.20 billion, a price-to-earnings ratio of 126.95 and a beta of 1.57.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

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.