Bank of New York Mellon Corp Acquires 72,770 Shares of Brookfield Co. (NYSE:BN)

Bank of New York Mellon Corp raised its holdings in shares of Brookfield Co. (NYSE:BN) by 3.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,443,095 shares of the company’s stock after acquiring an additional 72,770 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.15% of Brookfield worth $140,356,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Union Bancaire Privee UBP SA bought a new position in shares of Brookfield during the 4th quarter worth approximately $57,000. Wealthspire Advisors LLC grew its stake in shares of Brookfield by 4.2% during the 4th quarter. Wealthspire Advisors LLC now owns 10,994 shares of the company’s stock worth $632,000 after acquiring an additional 444 shares in the last quarter. Compass Planning Associates Inc bought a new position in shares of Brookfield during the 4th quarter worth approximately $30,000. Ieq Capital LLC grew its stake in shares of Brookfield by 7.7% in the fourth quarter. Ieq Capital LLC now owns 6,434 shares of the company’s stock valued at $370,000 after buying an additional 458 shares in the last quarter. Finally, TBH Global Asset Management LLC bought a new position in shares of Brookfield in the fourth quarter valued at $666,000. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Up 1.8 %

BN stock opened at $57.88 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The company has a fifty day moving average price of $58.60 and a two-hundred day moving average price of $55.46. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The stock has a market cap of $95.28 billion, a price-to-earnings ratio of 192.94 and a beta of 1.57.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Equities analysts anticipate that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio is currently 120.00%.

Analyst Ratings Changes

Several equities analysts recently weighed in on BN shares. Scotiabank raised their target price on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Morgan Stanley started coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. CIBC raised their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, TD Securities raised their target price on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

About Brookfield

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.