Waterfront Wealth Inc. Reduces Stake in Brookfield Co. (NYSE:BN)

Waterfront Wealth Inc. lowered its position in Brookfield Co. (NYSE:BN) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,607 shares of the company’s stock after selling 884 shares during the period. Brookfield makes up approximately 0.9% of Waterfront Wealth Inc.’s investment portfolio, making the stock its 27th largest holding. Waterfront Wealth Inc.’s holdings in Brookfield were worth $3,114,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new stake in Brookfield in the 3rd quarter worth approximately $25,000. Sunbelt Securities Inc. boosted its position in Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after purchasing an additional 794 shares in the last quarter. Allworth Financial LP boosted its position in Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Brookfield in the 3rd quarter worth approximately $30,000. Finally, Ronald Blue Trust Inc. lifted its position in shares of Brookfield by 102.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,021 shares of the company’s stock valued at $34,000 after buying an additional 517 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent analyst reports. Scotiabank increased their target price on Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. CIBC increased their price objective on Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. BMO Capital Markets increased their price objective on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. TheStreet raised Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $53.00 price objective on shares of Brookfield in a research note on Friday, April 12th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $47.45.

Brookfield Trading Up 0.7 %

NYSE BN traded up $0.29 during trading on Wednesday, hitting $39.01. The stock had a trading volume of 3,984,830 shares, compared to its average volume of 2,756,827. The company has a market capitalization of $64.06 billion, a PE ratio of 62.92 and a beta of 1.49. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. The firm has a 50 day moving average price of $40.85 and a 200 day moving average price of $37.54. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $43.17.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The company had revenue of $24.52 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $1.12 EPS. Brookfield’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Tuesday, March 12th. This is a boost from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio is 51.61%.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.00% of the company’s stock.

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.