AGF Management Ltd. Trims Stake in Brookfield Co. (NYSE:BN)

AGF Management Ltd. reduced its stake in Brookfield Co. (NYSE:BN) by 12.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,892,960 shares of the company’s stock after selling 275,057 shares during the period. AGF Management Ltd. owned 0.12% of Brookfield worth $109,372,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Compass Planning Associates Inc bought a new stake in shares of Brookfield during the fourth quarter valued at approximately $30,000. FSA Wealth Management LLC bought a new stake in shares of Brookfield during the 3rd quarter valued at $42,000. Prestige Wealth Management Group LLC grew its position in shares of 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 buying an additional 500 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Brookfield in the 4th quarter worth about $48,000. Finally, Continuum Advisory LLC purchased a new position in Brookfield during the 3rd quarter valued at about $55,000. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Down 3.5 %

Shares of BN stock opened at $50.28 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.09 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. The stock has a market capitalization of $82.77 billion, a P/E ratio of 167.62 and a beta of 1.65. The firm’s 50 day moving average is $58.11 and its 200 day moving average is $55.87.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Research analysts expect that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s payout ratio is 120.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BN. CIBC upped their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Morgan Stanley began coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. Scotiabank increased 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 reiterated an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, TD Securities lifted 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average 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.