Modern Wealth Management LLC Invests $473,000 in Brookfield Co. (NYSE:BN)

Modern Wealth Management LLC purchased a new stake in Brookfield Co. (NYSE:BN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,968 shares of the company’s stock, valued at approximately $473,000.

Several other institutional investors have also recently bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Brookfield by 131.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after buying an additional 263,375 shares during the period. Geode Capital Management LLC increased its position in Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Brookfield during the 3rd quarter worth about $6,485,000. Forsta AP Fonden lifted its position in Brookfield by 4.9% during the 4th quarter. Forsta AP Fonden now owns 287,200 shares of the company’s stock valued at $16,499,000 after purchasing an additional 13,300 shares during the period. Finally, Chemistry Wealth Management LLC boosted its stake in shares of Brookfield by 10.1% in the 4th quarter. Chemistry Wealth Management LLC now owns 252,597 shares of the company’s stock valued at $14,512,000 after purchasing an additional 23,159 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BN. Scotiabank increased their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. CIBC raised their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. TD Securities upped their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley started coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Stock Performance

BN stock opened at $54.13 on Friday. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The business’s 50-day moving average price is $56.96 and its two-hundred day moving average price is $56.12. The firm has a market cap of $89.13 billion, a PE ratio of 180.42 and a beta of 1.65. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.67%. Brookfield’s payout ratio is 120.00%.

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.