Axxcess Wealth Management LLC Trims Stock Position in Brookfield Co. (NYSE:BN)

Axxcess Wealth Management LLC cut its holdings in shares of Brookfield Co. (NYSE:BN) by 48.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,839 shares of the company’s stock after selling 4,590 shares during the period. Axxcess Wealth Management LLC’s holdings in Brookfield were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BN. Compass Planning Associates Inc acquired a new stake in shares of Brookfield during the 4th quarter valued at about $30,000. FSA Wealth Management LLC acquired a new stake in shares of Brookfield during the 3rd quarter valued at about $42,000. Prestige Wealth Management Group LLC grew its position in shares of Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Brookfield in the 4th quarter worth about $48,000. Finally, Continuum Advisory LLC acquired a new stake in Brookfield in the 3rd quarter worth about $55,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BN has been the topic of several research analyst reports. Morgan Stanley initiated coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. 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. TD Securities lifted their price objective on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Scotiabank lifted their price objective on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Trading Down 0.2 %

Shares of Brookfield stock opened at $53.65 on Friday. The stock has a market cap of $88.34 billion, a P/E ratio of 178.83 and a beta of 1.65. The stock’s 50 day simple moving average is $57.07 and its 200-day simple moving average is $55.96. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09.

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

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s payout ratio is presently 120.00%.

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.