Nicholas Hoffman & Company LLC. Reduces Stock Position in Brookfield Co. (NYSE:BN)

Nicholas Hoffman & Company LLC. trimmed its holdings in Brookfield Co. (NYSE:BN) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,452 shares of the company’s stock after selling 306 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Brookfield were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Personal Financial Services purchased a new position in shares of Brookfield in the third quarter valued at $42,000. FSA Wealth Management LLC bought a new position in Brookfield in the 3rd quarter worth about $42,000. Prestige Wealth Management Group LLC boosted its stake in Brookfield by 137.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares during the period. Continuum Advisory LLC purchased a new position in Brookfield during the 3rd quarter valued at about $55,000. Finally, Pinnacle Bancorp Inc. increased its position in shares of Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after buying an additional 221 shares during the period. Institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley started coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. Scotiabank upped their target price on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. CIBC upped 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. Finally, TD Securities upped their price objective on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Price Performance

Shares of Brookfield stock opened at $60.88 on Tuesday. The firm has a market cap of $100.20 billion, a PE ratio of 129.53 and a beta of 1.57. The company’s fifty day simple moving average is $58.47 and its two-hundred day simple moving average is $54.71. 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 12-month low of $38.18 and a 12-month high of $62.78.

Brookfield (NYSE:BN) last posted its earnings results 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 return on equity of 3.74% and a net margin of 1.00%. As a group, equities analysts expect that Brookfield Co. will post 3.83 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.59%. Brookfield’s dividend payout ratio is presently 68.09%.

About Brookfield

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.