Brookfield Co. (NYSE:BN) Stock Position Raised by Sanctuary Advisors LLC

by · The Markets Daily

Sanctuary Advisors LLC raised its position in shares of Brookfield Co. (NYSE:BN – Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,674 shares of the company’s stock after purchasing an additional 3,514 shares during the period. Sanctuary Advisors LLC’s holdings in Brookfield were worth $2,715,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BN. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield by 31.6% in 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 acquiring an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after acquiring an additional 196,790 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after acquiring an additional 1,301,072 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after acquiring an additional 3,271,403 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BN has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. TD Securities raised their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. CIBC raised their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Finally, Scotiabank raised their target price on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.00.

Read Our Latest Stock Report on BN

Brookfield Price Performance

Shares of NYSE:BN opened at $58.68 on Friday. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The firm has a market capitalization of $96.59 billion, a PE ratio of 195.60 and a beta of 1.57. The business’s 50 day moving average is $58.54 and its 200-day moving average is $55.07. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN – Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping 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 predict that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is presently 106.67%.

About Brookfield

(Free Report)

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.

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