Raymond James Financial Inc. Acquires Shares of 1,441,167 Brookfield Co. (NYSE:BN)

Raymond James Financial Inc. bought a new position in shares of Brookfield Co. (NYSE:BN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,441,167 shares of the company’s stock, valued at approximately $82,795,000. Raymond James Financial Inc. owned approximately 0.09% of Brookfield as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BN. Concurrent Investment Advisors LLC purchased a new stake in shares of Brookfield during the third quarter worth about $246,000. Leavell Investment Management Inc. increased its stake in shares of Brookfield by 373.2% during the third quarter. Leavell Investment Management Inc. now owns 35,118 shares of the company’s stock worth $1,867,000 after purchasing an additional 27,696 shares in the last quarter. First Personal Financial Services purchased a new stake in shares of Brookfield during the third quarter worth about $42,000. Legacy Capital Wealth Partners LLC increased its stake in shares of Brookfield by 72.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 13,682 shares of the company’s stock worth $727,000 after purchasing an additional 5,727 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in shares of Brookfield by 60.8% during the third quarter. Axxcess Wealth Management LLC now owns 9,429 shares of the company’s stock worth $501,000 after purchasing an additional 3,564 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE:BN opened at $52.10 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The firm has a market capitalization of $85.76 billion, a price-to-earnings ratio of 173.66 and a beta of 1.65. The company’s 50-day moving average is $58.25 and its two-hundred day moving average is $55.85. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Analysts forecast that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.69%. Brookfield’s payout ratio is 120.00%.

Analyst Ratings Changes

BN has been the subject of a number of research reports. CIBC boosted their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Scotiabank boosted their price target 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. TD Securities boosted their price target 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. Morgan Stanley started coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. Finally, BMO Capital Markets restated an “outperform” rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.