Procyon Advisors LLC Has $1.94 Million Position in Brookfield Co. (NYSE:BN)

Procyon Advisors LLC lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 2.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 46,388 shares of the company’s stock after selling 1,306 shares during the period. Procyon Advisors LLC’s holdings in Brookfield were worth $1,942,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Brookfield by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 56,417,198 shares of the company’s stock worth $2,263,458,000 after purchasing an additional 987,520 shares during the period. Capital World Investors grew its position in Brookfield by 102.2% during the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after buying an additional 24,975,364 shares in the last quarter. TD Asset Management Inc increased its stake in Brookfield by 16.2% during the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock valued at $1,069,892,000 after acquiring an additional 3,702,266 shares during the period. Bank of Nova Scotia raised its holdings in Brookfield by 1.2% in the 3rd quarter. Bank of Nova Scotia now owns 20,312,486 shares of the company’s stock valued at $635,326,000 after acquiring an additional 242,567 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Brookfield by 21.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,233,299 shares of the company’s stock worth $602,966,000 after acquiring an additional 3,331,522 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Up 1.7 %

Shares of Brookfield stock opened at $41.56 on Friday. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $45.11. The stock has a market capitalization of $68.31 billion, a P/E ratio of 68.13 and a beta of 1.51. The company has a 50-day simple moving average of $42.38 and a 200 day simple moving average of $40.92. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $22.91 billion during the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same period in the previous year, the business posted $0.72 EPS. Research analysts expect that Brookfield Co. will post 3.35 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a $0.08 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.77%. Brookfield’s payout ratio is 52.46%.

Insiders Place Their Bets

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares in the company, valued at $128,278,049.20. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BN shares. Royal Bank of Canada lowered their price objective on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $46.00 price target (up previously from $45.00) on shares of Brookfield in a report on Friday, May 10th. Finally, Scotiabank dropped their price objective on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $48.10.

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.