Private Management Group Inc. Sells 15,921 Shares of Brookfield Co. (NYSE:BN)

Private Management Group Inc. lowered its stake in shares of Brookfield Co. (NYSE:BN) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 677,857 shares of the company’s stock after selling 15,921 shares during the period. Private Management Group Inc.’s holdings in Brookfield were worth $27,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC boosted its stake in Brookfield by 5.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 7,334 shares of the company’s stock valued at $294,000 after purchasing an additional 372 shares during the period. Maryland State Retirement & Pension System increased its position in Brookfield by 0.8% during the third quarter. Maryland State Retirement & Pension System now owns 50,507 shares of the company’s stock worth $1,580,000 after acquiring an additional 410 shares during the period. Mckinley Capital Management LLC raised its stake in Brookfield by 1.6% during the 3rd quarter. Mckinley Capital Management LLC now owns 26,074 shares of the company’s stock valued at $815,000 after purchasing an additional 410 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in Brookfield by 3.1% in the 3rd quarter. Moors & Cabot Inc. now owns 13,891 shares of the company’s stock valued at $434,000 after purchasing an additional 416 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in Brookfield by 1.6% in the 3rd quarter. Yousif Capital Management LLC now owns 27,117 shares of the company’s stock valued at $848,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BN shares. BMO Capital Markets increased their target price on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. CIBC raised their price objective on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price objective on Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. TheStreet raised Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Finally, Canaccord Genuity Group boosted their price target on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.45.

Brookfield Price Performance

Shares of Brookfield stock traded up $0.76 during mid-day trading on Tuesday, reaching $40.37. 2,126,065 shares of the stock were exchanged, compared to its average volume of 2,724,244. The company has a market cap of $66.29 billion, a price-to-earnings ratio of 65.11 and a beta of 1.49. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $43.17. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The firm has a 50-day simple moving average of $40.78 and a 200 day simple moving average of $37.85.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. Brookfield’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that Brookfield Co. will post 3.75 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 12th. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. Brookfield’s dividend payout ratio (DPR) is 51.61%.

Insider Activity at Brookfield

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

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.