Brookfield Co. (NYSE:BN) Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of Brookfield Co. (NYSE:BN) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,285,987 shares of the company’s stock after selling 6,805,668 shares during the quarter. Brookfield accounts for approximately 1.6% of Principal Financial Group Inc.’s holdings, making the stock its 5th biggest holding. Principal Financial Group Inc.’s holdings in Brookfield were worth $3,003,816,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after acquiring an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Brookfield by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after purchasing an additional 9,915 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after purchasing an additional 351,231 shares during the last quarter. Finally, Partners Group Holding AG grew its holdings in shares of Brookfield by 53.5% in the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after purchasing an additional 142,603 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

NYSE:BN opened at $60.88 on Monday. The stock has a market cap of $100.20 billion, a P/E ratio of 129.53 and a beta of 1.57. The firm’s fifty day simple moving average is $58.44 and its 200 day simple moving average is $54.61. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. 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 (NYSE:BN) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 1.00% and a return on equity of 3.74%. As a group, research analysts predict that Brookfield Co. will post 3.83 EPS for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 0.59%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

BN has been the topic of several recent analyst reports. Scotiabank raised their target price on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Morgan Stanley initiated coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. TD Securities raised their target price on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. CIBC raised their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

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.