Keybank National Association OH Sells 3,655 Shares of Brookfield Co. (NYSE:BN)

Keybank National Association OH trimmed its position in Brookfield Co. (NYSE:BN) by 14.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,594 shares of the company’s stock after selling 3,655 shares during the period. Keybank National Association OH’s holdings in Brookfield were worth $1,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in Brookfield by 6.2% during the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after purchasing an additional 196,790 shares during the last quarter. Toronto Dominion Bank boosted its stake in Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after purchasing an additional 1,301,072 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Brookfield by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after purchasing an additional 591,757 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Brookfield stock opened at $52.10 on Friday. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The business’s 50 day simple moving average is $58.35 and its 200 day simple moving average is $55.69. The company has a market cap of $85.76 billion, a price-to-earnings ratio of 173.66 and a beta of 1.65.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating 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%. Sell-side analysts forecast that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.69%. Brookfield’s payout ratio is 120.00%.

Analyst Ratings Changes

A number of research firms have issued reports on BN. Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Scotiabank boosted 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. TD Securities boosted their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, CIBC boosted their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.