Norden Group LLC Sells 1,139 Shares of Brookfield Co. (NYSE:BN)

Norden Group LLC reduced its stake in Brookfield Co. (NYSE:BN) by 17.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,525 shares of the company’s stock after selling 1,139 shares during the period. Norden Group LLC’s holdings in Brookfield were worth $222,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. FinTrust Capital Advisors LLC purchased a new stake in shares of Brookfield during the third quarter valued at $25,000. Sunbelt Securities Inc. raised its holdings in shares of Brookfield by 4,670.6% during the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after purchasing an additional 794 shares during the last quarter. Allworth Financial LP boosted its holdings in Brookfield by 256.2% in the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares during the last quarter. Oakworth Capital Inc. grew its position in Brookfield by 172.3% in the 4th quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock worth $43,000 after purchasing an additional 679 shares during the period. Finally, Castleview Partners LLC purchased a new stake in Brookfield during the 3rd quarter valued at $34,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BN has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. TD Securities raised their price objective on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research note on Sunday, February 11th. Canaccord Genuity Group lifted their price objective on Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada reduced their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $47.25.

Insider Buying and Selling

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.

Brookfield Stock Performance

Brookfield stock opened at $40.98 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $43.17. The company’s 50-day moving average price is $40.81 and its 200-day moving average price is $38.14. The company has a market cap of $67.29 billion, a PE ratio of 66.10 and a beta of 1.49.

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

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. This is an increase from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s dividend payout ratio is presently 51.61%.

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.