Clearbridge Investments LLC Purchases Shares of 2,222,170 Brookfield Co. (NYSE:BN)

Clearbridge Investments LLC acquired a new position in Brookfield Co. (NYSE:BN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,222,170 shares of the company’s stock, valued at approximately $89,153,000.

Other large investors have also recently modified their holdings of the company. Sunbelt Securities Inc. raised its stake in Brookfield by 4,670.6% in the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 794 shares during the last quarter. Allworth Financial LP boosted its stake in Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in Brookfield in the 3rd quarter worth approximately $37,000. Oakworth Capital Inc. increased its stake in Brookfield by 172.3% during the 4th quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock valued at $43,000 after purchasing an additional 679 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Brookfield by 47.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the company’s stock valued at $48,000 after purchasing an additional 501 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BN. BMO Capital Markets raised their target price on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Royal Bank of Canada reduced their price objective on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Canaccord Genuity Group upped their target price on Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research report on Friday, February 9th. CIBC raised their price target on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.10.

Brookfield Stock Performance

BN opened at $44.36 on Wednesday. The stock has a market cap of $72.85 billion, a P/E ratio of 73.03 and a beta of 1.48. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a fifty day moving average price of $41.54 and a 200 day moving average price of $39.50. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $45.11.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $22.91 billion for the quarter. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. During the same quarter last year, the business earned $0.72 earnings per share. Equities research analysts anticipate that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, June 13th. Brookfield’s payout ratio is 52.46%.

Insider Activity at Brookfield

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

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.