Brookfield Co. (NYSE:BN) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in Brookfield Co. (NYSE:BN) by 0.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 43,333 shares of the company’s stock after buying an additional 297 shares during the period. Assenagon Asset Management S.A.’s holdings in Brookfield were worth $2,267,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Brookfield by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock worth $3,443,129,000 after purchasing an additional 974,533 shares in the last quarter. Capital World Investors grew its stake in Brookfield by 3.1% in the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock valued at $3,390,786,000 after acquiring an additional 1,782,034 shares during the last quarter. FIL Ltd increased its holdings in Brookfield by 8.8% during the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company’s stock valued at $1,169,912,000 after acquiring an additional 1,640,903 shares in the last quarter. Norges Bank acquired a new position in Brookfield during the fourth quarter worth about $973,591,000. Finally, CIBC Asset Management Inc lifted its holdings in shares of Brookfield by 6.2% in the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN opened at $58.49 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a fifty-two week low of $40.04 and a fifty-two week high of $62.78. The business has a 50 day moving average price of $55.33 and a two-hundred day moving average price of $56.15. The firm has a market cap of $96.39 billion, a PE ratio of 194.97 and a beta of 1.66.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Sell-side analysts expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Friday, June 13th. Brookfield’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BN. TD Securities lowered their price target on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a report on Monday, May 5th. Scotiabank cut their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their price objective on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. Finally, CIBC decreased their price target on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

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.