Brookfield Co. (NYSE:BN) Shares Sold by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. lessened its position in shares of Brookfield Co. (NYSE:BN) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,784 shares of the company’s stock after selling 8,218 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Brookfield were worth $6,652,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted 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 valued at $814,585,000 after purchasing an additional 823,428 shares in the last quarter. The Manufacturers Life Insurance Company lifted 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 valued at $623,783,000 after purchasing an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. lifted 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 valued at $611,383,000 after purchasing an additional 196,790 shares in the last quarter. Toronto Dominion Bank lifted 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 valued at $364,152,000 after purchasing an additional 1,301,072 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted 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 valued at $373,527,000 after purchasing an additional 668,630 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

BN has been the topic of several recent analyst reports. CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company 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 stock a “sector outperform” rating in a research note on Monday, February 3rd. TD Securities raised their price target on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley assumed coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Price Performance

Brookfield stock opened at $53.66 on Friday. Brookfield Co. has a 12-month low of $38.18 and a 12-month high of $62.78. The stock has a market cap of $88.35 billion, a P/E ratio of 178.86 and a beta of 1.65. The company has a 50-day moving average price of $57.10 and a 200 day moving average price of $55.88. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current 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.