Maryland State Retirement & Pension System Acquires 467 Shares of Brookfield Co. (NYSE:BN)

Maryland State Retirement & Pension System grew its holdings in shares of Brookfield Co. (NYSE:BN) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,974 shares of the company’s stock after purchasing an additional 467 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Brookfield were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eldred Rock Partners LLC bought a new position in shares of Brookfield during the 4th quarter valued at $9,868,000. Choreo LLC bought a new position in shares of Brookfield during the 4th quarter valued at $754,000. JPMorgan Chase & Co. raised its holdings in shares of Brookfield by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock valued at $182,650,000 after purchasing an additional 273,474 shares in the last quarter. Northside Capital Management LLC bought a new position in shares of Brookfield during the 4th quarter valued at $229,000. Finally, Lazard Asset Management LLC bought a new position in Brookfield in the 3rd quarter worth $23,667,000. Institutional investors own 61.60% of the company’s stock.

Insiders Place Their Bets

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 transaction of $11,330,000.00. Following the completion of the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 shares were 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. Insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a report on Friday, February 9th. BMO Capital Markets lifted their target price on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Royal Bank of Canada dropped their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Finally, CIBC raised their price target on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.25.

Brookfield Price Performance

NYSE:BN traded down $0.31 on Wednesday, reaching $43.42. The stock had a trading volume of 681,226 shares, compared to its average volume of 2,782,156. The company has a market capitalization of $71.30 billion, a P/E ratio of 69.42 and a beta of 1.48. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $43.99. 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 stock has a fifty day moving average price of $40.97 and a 200-day moving average price of $38.52.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, topping 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 the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Research analysts forecast that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 12th. This is an increase from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.74%. Brookfield’s payout ratio is currently 51.61%.

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.