Commerce Bank Grows Holdings in Brookfield Co. (NYSE:BN)

Commerce Bank boosted its position in Brookfield Co. (NYSE:BNFree Report) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,480 shares of the company’s stock after buying an additional 2,557 shares during the quarter. Commerce Bank’s holdings in Brookfield were worth $420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Brookfield in the fourth quarter valued at $614,104,000. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield by 21.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,233,299 shares of the company’s stock valued at $602,966,000 after purchasing an additional 3,331,522 shares in the last quarter. FMR LLC lifted its position in shares of Brookfield by 37.8% during the third quarter. FMR LLC now owns 10,025,978 shares of the company’s stock worth $313,502,000 after purchasing an additional 2,752,801 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Brookfield in the fourth quarter worth about $89,153,000. Finally, Envestnet Asset Management Inc. increased its holdings in Brookfield by 153.1% in the third quarter. Envestnet Asset Management Inc. now owns 1,848,871 shares of the company’s stock valued at $57,842,000 after buying an additional 1,118,396 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 1.9 %

BN opened at $43.49 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17. The company has a market capitalization of $71.42 billion, a PE ratio of 71.30 and a beta of 1.48. The stock’s fifty day moving average is $41.89 and its 200-day moving average is $40.04. Brookfield Co. has a one year low of $28.84 and a one year high of $45.11.

Brookfield (NYSE:BNGet Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $22.91 billion during the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same period in the prior year, the company earned $0.72 earnings per share. On average, equities analysts predict that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.74%. Brookfield’s payout ratio is presently 52.46%.

Insider Buying and Selling at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the transaction, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now directly owns 15,492,168 shares in the company, valued at $175,526,263.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s 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 disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BN. TD Securities lifted their target price on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research report on Sunday, February 11th. Canaccord Genuity Group boosted their target price on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research note on Friday, February 9th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $46.00 price target (up from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Royal Bank of Canada lowered their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, CIBC raised their target price on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $48.10.

Read Our Latest Research Report on BN

Brookfield Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Brookfield (NYSE:BN)

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