Hi Line Capital Management LLC Has $13.64 Million Position in Brookfield Co. (NYSE:BN)

Hi Line Capital Management LLC cut its holdings in Brookfield Co. (NYSE:BN) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,668 shares of the company’s stock after selling 1,686 shares during the period. Brookfield makes up 4.8% of Hi Line Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Hi Line Capital Management LLC’s holdings in Brookfield were worth $13,636,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. M&T Bank Corp grew its position in shares of Brookfield by 3.3% in the fourth quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock valued at $400,000 after purchasing an additional 314 shares during the last quarter. Fortis Group Advisors LLC lifted its stake in shares of 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 buying an additional 337 shares during the period. Fidelis Capital Partners LLC lifted its stake 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 period. Lincoln National Corp lifted its stake in shares of Brookfield by 6.4% in the fourth quarter. Lincoln National Corp now owns 6,927 shares of the company’s stock valued at $278,000 after buying an additional 419 shares during the period. Finally, RE Dickinson Investment Advisors LLC lifted its stake in shares of Brookfield by 6.2% in the fourth quarter. RE Dickinson Investment Advisors LLC now owns 7,313 shares of the company’s stock valued at $293,000 after buying an additional 430 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BN shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $46.00 target price (up previously from $45.00) on shares of Brookfield in a research note on Friday, May 10th. Royal Bank of Canada cut their price target 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, Scotiabank cut their price target on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.10.

Insiders Place Their Bets

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares in the company, valued at $128,278,049.20. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Brookfield Price Performance

Shares of Brookfield stock traded down $0.31 during midday trading on Monday, reaching $41.23. The company had a trading volume of 400,685 shares, compared to its average volume of 3,162,649. 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 market capitalization of $67.77 billion, a price-to-earnings ratio of 67.36 and a beta of 1.52. The stock has a fifty day simple moving average of $42.43 and a 200 day simple moving average of $41.01. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $45.11.

Brookfield (NYSE:BN) last released 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 net margin of 1.16% and a return on equity of 3.15%. The firm had revenue of $22.91 billion during the quarter. During the same period in the prior year, the firm posted $0.72 EPS. As a group, equities research analysts forecast that Brookfield Co. will post 3.35 earnings per share 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Thursday, June 13th. Brookfield’s dividend payout ratio is presently 52.46%.

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.