Blue Zone Wealth Advisors LLC Sells 7,767 Shares of Brookfield Co. (NYSE:BN)

Blue Zone Wealth Advisors LLC trimmed its holdings in Brookfield Co. (NYSE:BN) by 4.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,514 shares of the company’s stock after selling 7,767 shares during the quarter. Brookfield comprises approximately 2.3% of Blue Zone Wealth Advisors LLC’s portfolio, making the stock its 9th biggest position. Blue Zone Wealth Advisors LLC’s holdings in Brookfield were worth $6,804,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp grew its position in shares of Brookfield by 3.3% during the fourth quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock worth $400,000 after acquiring an additional 314 shares during the last quarter. Fortis Group Advisors LLC increased its stake in Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the period. Fidelis Capital Partners LLC raised its holdings in shares of Brookfield by 5.3% in the fourth quarter. Fidelis Capital Partners LLC now owns 7,334 shares of the company’s stock valued at $294,000 after buying an additional 372 shares during the last quarter. Lincoln National Corp boosted its stake in shares of Brookfield by 6.4% during the fourth quarter. Lincoln National Corp now owns 6,927 shares of the company’s stock worth $278,000 after buying an additional 419 shares during the period. Finally, RE Dickinson Investment Advisors LLC grew its holdings in shares of Brookfield by 6.2% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 7,313 shares of the company’s stock worth $293,000 after buying an additional 430 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Price Performance

Shares of NYSE:BN traded down $0.02 during trading on Friday, hitting $41.54. 1,549,328 shares of the stock were exchanged, compared to its average volume of 5,315,918. The company has a market cap of $68.28 billion, a PE ratio of 68.10 and a beta of 1.51. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. The company has a fifty day moving average price of $42.43 and a two-hundred day moving average price of $40.99. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $45.11.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The company had revenue of $22.91 billion for the quarter. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, analysts forecast that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.77%. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Upgrades and Downgrades

BN has been the subject of a number of recent research reports. Scotiabank decreased their price objective on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research report on Friday, May 10th. Royal Bank of Canada reduced their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $46.00 price target (up from $45.00) on shares of Brookfield in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.10.

Insiders Place Their Bets

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the sale, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was 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. 11.00% of the stock is currently owned by company insiders.

Brookfield Company 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.