PNC Financial Services Group Inc. Lowers Position in Brookfield Co. (NYSE:BN)

PNC Financial Services Group Inc. reduced its stake in Brookfield Co. (NYSE:BN) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,416 shares of the company’s stock after selling 18,282 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Brookfield were worth $9,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pittenger & Anderson Inc. raised its position in Brookfield by 14.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock valued at $90,000 after buying an additional 203 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in Brookfield by 29.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after buying an additional 221 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Brookfield by 10.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,579 shares of the company’s stock valued at $148,000 after buying an additional 245 shares during the last quarter. Fisher Asset Management LLC raised its position in Brookfield by 2.7% in the 4th quarter. Fisher Asset Management LLC now owns 9,873 shares of the company’s stock valued at $567,000 after buying an additional 255 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its position in Brookfield by 5.3% in the 4th quarter. Joel Isaacson & Co. LLC now owns 5,625 shares of the company’s stock valued at $323,000 after buying an additional 283 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Down 1.0 %

Shares of BN opened at $49.85 on Wednesday. The business has a 50-day moving average of $57.96 and a 200 day moving average of $55.88. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The firm has a market cap of $82.06 billion, a P/E ratio of 166.18 and a beta of 1.65. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, research analysts forecast that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BN. Scotiabank raised 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. TD Securities raised their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. CIBC raised their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, Morgan Stanley began coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.