Legacy Capital Wealth Partners LLC Invests $308,000 in Brookfield Co. (NYSE:BN)

Legacy Capital Wealth Partners LLC purchased a new stake in shares of Brookfield Co. (NYSE:BN) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,685 shares of the company’s stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AE Wealth Management LLC increased its stake in shares of Brookfield by 10.0% during the third quarter. AE Wealth Management LLC now owns 17,591 shares of the company’s stock valued at $550,000 after purchasing an additional 1,603 shares in the last quarter. Private Trust Co. NA boosted its holdings in Brookfield by 30.5% in the third quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after acquiring an additional 480 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Brookfield by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 284,962 shares of the company’s stock worth $8,911,000 after acquiring an additional 3,462 shares in the last quarter. Callahan Advisors LLC grew its stake in shares of Brookfield by 2.7% in the third quarter. Callahan Advisors LLC now owns 465,143 shares of the company’s stock worth $14,545,000 after acquiring an additional 12,433 shares during the last quarter. Finally, Live Oak Private Wealth LLC increased its holdings in shares of Brookfield by 1.7% during the third quarter. Live Oak Private Wealth LLC now owns 222,842 shares of the company’s stock valued at $6,968,000 after acquiring an additional 3,820 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 0.2 %

Shares of BN stock opened at $41.06 on Tuesday. The company has a 50 day simple moving average of $40.81 and a two-hundred day simple moving average of $38.09. The stock has a market cap of $67.42 billion, a P/E ratio of 66.23 and a beta of 1.49. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business posted $1.12 EPS. Brookfield’s revenue was up 1.3% on a year-over-year basis. On average, research analysts expect that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.78%. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. Brookfield’s dividend payout ratio is currently 51.61%.

Insiders Place Their Bets

In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Scotiabank increased their price objective on Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. CIBC boosted their target price on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, BMO Capital Markets raised their price target on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.25.

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.