Sequoia Financial Advisors LLC Purchases 758,076 Shares of Brookfield Co. (NYSE:BN)

Sequoia Financial Advisors LLC boosted its position in shares of Brookfield Co. (NYSE:BN) by 4,149.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 776,346 shares of the company’s stock after purchasing an additional 758,076 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Brookfield were worth $41,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Brookfield by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after purchasing an additional 1,063,110 shares during the last quarter. Capital World Investors grew its position in shares of Brookfield by 5.1% during the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after buying an additional 2,497,509 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after acquiring an additional 299,029 shares during the last quarter. Cooke & Bieler LP raised its position in shares of Brookfield by 5.0% in the 2nd quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after acquiring an additional 269,813 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Brookfield by 3.7% during the 1st quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after acquiring an additional 113,241 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada dropped their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets lifted their target price on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Keefe, Bruyette & Woods increased their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Finally, Scotiabank lifted their price objective on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Stock Down 1.7 %

Shares of BN stock traded down $0.92 on Tuesday, hitting $54.47. 602,808 shares of the stock were exchanged, compared to its average volume of 2,886,599. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $89.53 billion, a P/E ratio of 89.38 and a beta of 1.54. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $56.83. The business has a 50-day moving average of $50.57 and a 200 day moving average of $45.67.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.75 earnings per share. Equities analysts anticipate that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s payout ratio is 52.46%.

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.