Simon Quick Advisors LLC Raises Stock Holdings in Brookfield Co. (NYSE:BN)

Simon Quick Advisors LLC grew its stake in Brookfield Co. (NYSE:BN) by 14.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 8,918 shares of the company’s stock after buying an additional 1,103 shares during the period. Simon Quick Advisors LLC’s holdings in Brookfield were worth $467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Brookfield by 1.7% during the fourth 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 position in shares of Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock worth $3,390,786,000 after purchasing an additional 1,782,034 shares in the last quarter. FIL Ltd grew its position in shares of Brookfield by 8.8% during the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company’s stock worth $1,169,912,000 after purchasing an additional 1,640,903 shares in the last quarter. Norges Bank purchased a new stake in shares of Brookfield during the fourth quarter worth about $973,591,000. Finally, CIBC Asset Management Inc grew its position in shares of Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after purchasing an additional 823,428 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

NYSE:BN opened at $57.75 on Friday. The firm has a market capitalization of $95.15 billion, a price-to-earnings ratio of 192.52 and a beta of 1.66. Brookfield Co. has a 1 year low of $39.97 and a 1 year high of $62.78. The business has a 50 day simple moving average of $55.05 and a 200-day simple moving average of $56.24. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09.

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

Brookfield Announces Dividend

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Securities cut their target price on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Morgan Stanley reiterated an “overweight” rating on shares of Brookfield in a research report on Monday, May 19th. JPMorgan Chase & Co. cut their target price on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Scotiabank dropped their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. Finally, Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

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.