Insider Selling: Brookfield Co. (NYSE:BN) Major Shareholder Sells 7,131 Shares of Stock

Brookfield Co. (NYSE:BN) major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Brookfield Price Performance

NYSE:BN opened at $40.96 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. The business’s 50-day simple moving average is $40.80 and its two-hundred day simple moving average is $37.96. The stock has a market cap of $67.26 billion, a PE ratio of 66.07 and a beta of 1.49. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $43.17.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. The business had revenue of $24.52 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.12 earnings per share. As a group, analysts forecast that Brookfield Co. will post 3.75 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.08 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. Brookfield’s dividend payout ratio (DPR) is presently 51.61%.

Analysts Set New Price Targets

BN has been the topic of a number of research reports. CIBC raised their price target on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Canaccord Genuity Group raised their price target on Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research note on Friday, February 9th. Royal Bank of Canada restated an “outperform” rating and issued a $53.00 price target on shares of Brookfield in a research note on Friday, April 12th. TheStreet raised Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Finally, BMO Capital Markets raised their target price on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $47.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. FinTrust Capital Advisors LLC purchased a new position in shares of Brookfield during the third quarter valued at about $25,000. Sunbelt Securities Inc. grew its position in shares of Brookfield by 4,670.6% during the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after purchasing an additional 794 shares in the last quarter. Connectus Wealth LLC grew its position in shares of Brookfield by 1,049.1% during the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC grew its position in Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares in the last quarter. Finally, Castleview Partners LLC purchased a new position in Brookfield in the third quarter worth about $34,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

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.