Pictet Asset Management Holding SA Acquires 163,789 Shares of Brookfield Co. (NYSE:BN)

Pictet Asset Management Holding SA grew its holdings in Brookfield Co. (NYSE:BN) by 29.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 726,288 shares of the company’s stock after purchasing an additional 163,789 shares during the period. Pictet Asset Management Holding SA’s holdings in Brookfield were worth $41,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new position in Brookfield in the fourth quarter worth approximately $30,000. FSA Wealth Management LLC bought a new position in shares of Brookfield during the 3rd quarter worth $42,000. Prestige Wealth Management Group LLC increased its stake in shares of Brookfield by 137.0% during the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after buying an additional 500 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Brookfield in the fourth quarter valued at about $48,000. Finally, Continuum Advisory LLC purchased a new stake in Brookfield in the third quarter worth about $55,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Down 4.4 %

Brookfield stock opened at $51.77 on Monday. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The business has a fifty day moving average price of $56.83 and a 200-day moving average price of $56.27. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The stock has a market capitalization of $85.25 billion, a price-to-earnings ratio of 172.57 and a beta of 1.65.

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

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.70%. Brookfield’s payout ratio is currently 120.00%.

Analyst Ratings Changes

A number of research analysts have commented on BN shares. CIBC raised their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank boosted their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley began coverage on Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.