Sanibel Captiva Trust Company Inc. Sells 8,297 Shares of Brookfield Co. (NYSE:BN)

Sanibel Captiva Trust Company Inc. lessened its position in shares of Brookfield Co. (NYSE:BN) by 1.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 822,992 shares of the company’s stock after selling 8,297 shares during the period. Brookfield makes up 1.4% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 17th biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in Brookfield were worth $43,133,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Brookfield in the 4th quarter valued at about $973,591,000. Baillie Gifford & Co. boosted its holdings in Brookfield by 809.5% in the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after acquiring an additional 3,271,403 shares in the last quarter. Regents of The University of California acquired a new stake in Brookfield in the fourth quarter valued at approximately $154,140,000. Geode Capital Management LLC grew its stake in Brookfield by 32.0% in the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock valued at $460,489,000 after acquiring an additional 1,930,218 shares during the period. Finally, Capital World Investors increased its holdings 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 valued at $3,390,786,000 after acquiring an additional 1,782,034 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.6%

BN opened at $58.56 on Tuesday. The firm has a market capitalization of $96.48 billion, a price-to-earnings ratio of 195.21 and a beta of 1.66. Brookfield Co. has a one year low of $39.97 and a one year high of $62.78. The business has a 50 day simple moving average of $54.08 and a two-hundred day simple moving average of $56.22. 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 released its earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Analysts predict that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. Brookfield’s payout ratio is presently 128.57%.

Analyst Ratings Changes

Several research firms have recently commented on BN. Morgan Stanley reissued an “overweight” rating on shares of Brookfield in a research report on Monday, May 19th. JPMorgan Chase & Co. cut their price target on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a report on Sunday. TD Securities lowered their price objective on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, CIBC dropped their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently 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.