Bamco Inc. NY Decreases Stock Holdings in Brookfield Corporation $BN

Bamco Inc. NY reduced its position in Brookfield Corporation (NYSE:BN) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,402,280 shares of the company’s stock after selling 107,795 shares during the period. Bamco Inc. NY’s holdings in Brookfield were worth $164,748,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Brookfield in the 2nd quarter valued at $32,000. Cary Street Partners Investment Advisory LLC raised its position in Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after buying an additional 330 shares during the last quarter. First Horizon Corp acquired a new stake in Brookfield during the 3rd quarter valued at approximately $40,000. Versant Capital Management Inc boosted its holdings in shares of Brookfield by 507.5% in the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $45,000 after acquiring an additional 543 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Brookfield in the 2nd quarter valued at $51,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of BN opened at $38.38 on Friday. The stock has a market cap of $94.01 billion, a PE ratio of 77.79 and a beta of 1.58. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56. The firm has a fifty day moving average price of $45.60 and a 200 day moving average price of $45.59.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. As a group, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s payout ratio is currently 48.98%.

Analyst Ratings Changes

BN has been the subject of a number of research reports. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. National Bank Financial increased their target price on shares of Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Royal Bank Of Canada lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Finally, Scotiabank reissued an “outperform” rating and issued a $52.00 price target (up from $49.00) on shares of Brookfield in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.59.

Brookfield Profile

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.