Acadian Asset Management LLC Acquires 153,205 Shares of Brookfield Co. (NYSE:BN)

Acadian Asset Management LLC increased its holdings in shares of Brookfield Co. (NYSE:BN) by 352.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,670 shares of the company’s stock after acquiring an additional 153,205 shares during the quarter. Acadian Asset Management LLC’s holdings in Brookfield were worth $8,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connectus Wealth LLC raised its stake in shares of Brookfield by 1,049.1% during the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after purchasing an additional 557,749 shares during the period. Fortis Group Advisors LLC increased its stake in shares of Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Allworth Financial LP lifted its stake in Brookfield by 256.2% in the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after purchasing an additional 638 shares during the last quarter. Salem Investment Counselors Inc. bought a new position in Brookfield during the first quarter valued at $42,000. Finally, Oakworth Capital Inc. raised its stake in shares of Brookfield by 172.3% in the fourth quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock valued at $43,000 after buying an additional 679 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, 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 owns 10,779,668 shares in the company, valued at $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Brookfield Stock Up 1.7 %

Shares of BN stock traded up $0.80 during midday trading on Monday, reaching $46.86. 782,879 shares of the stock were exchanged, compared to its average volume of 3,048,530. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $47.43. The firm has a market cap of $77.04 billion, a PE ratio of 75.51 and a beta of 1.52. The company’s 50 day moving average is $43.17 and its two-hundred day moving average is $41.52. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The company 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 in the prior year, the firm earned $0.72 earnings per share. On average, equities research analysts predict that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.68%. Brookfield’s payout ratio is 52.46%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BN shares. Scotiabank cut their price target on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Keefe, Bruyette & Woods reduced their target price on shares of Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Friday, July 12th. Finally, Royal Bank of Canada dropped their price target on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average price target of $47.90.

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.