AGF Management Ltd. Lowers Stake in Brookfield Co. (NYSE:BN)

AGF Management Ltd. cut its position in Brookfield Co. (NYSE:BN) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,892,960 shares of the company’s stock after selling 275,057 shares during the period. AGF Management Ltd.’s holdings in Brookfield were worth $109,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. King Luther Capital Management Corp boosted its position in shares of Brookfield by 0.7% during the 4th quarter. King Luther Capital Management Corp now owns 103,302 shares of the company’s stock valued at $5,935,000 after acquiring an additional 722 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Brookfield by 5.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock valued at $250,000 after acquiring an additional 240 shares during the last quarter. Net Worth Advisory Group bought a new position in shares of Brookfield during the 4th quarter valued at approximately $232,000. Independent Advisor Alliance boosted its position in shares of Brookfield by 2.9% during the 4th quarter. Independent Advisor Alliance now owns 9,856 shares of the company’s stock valued at $566,000 after acquiring an additional 275 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Brookfield by 3.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 523,609 shares of the company’s stock valued at $30,080,000 after acquiring an additional 19,650 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 3.5 %

Shares of NYSE BN opened at $50.28 on Tuesday. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The business has a 50-day moving average price of $58.11 and a 200 day moving average price of $55.87. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The stock has a market cap of $82.77 billion, a PE ratio of 167.62 and a beta of 1.65.

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

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.72%. Brookfield’s payout ratio is 120.00%.

Wall Street Analyst Weigh In

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

Brookfield 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.