Wilmington Savings Fund Society FSB Sells 2,210 Shares of Brookfield Co. (NYSE:BN)

Wilmington Savings Fund Society FSB cut its stake in Brookfield Co. (NYSE:BN) by 15.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,540 shares of the company’s stock after selling 2,210 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Brookfield were worth $720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BN. First Personal Financial Services bought a new position in Brookfield in the third quarter worth $42,000. FSA Wealth Management LLC purchased a new position in Brookfield during the 3rd quarter valued at about $42,000. Prestige Wealth Management Group LLC lifted its position in Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Continuum Advisory LLC purchased a new stake in Brookfield in the third quarter worth about $55,000. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after purchasing an additional 221 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

NYSE BN opened at $59.42 on Tuesday. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The stock has a 50-day moving average of $58.50 and a 200 day moving average of $54.28. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The company has a market capitalization of $97.79 billion, a price-to-earnings ratio of 126.43 and a beta of 1.57.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. Brookfield’s payout ratio is 68.09%.

Analyst Ratings Changes

A number of analysts have recently commented on BN shares. CIBC boosted 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. Morgan Stanley assumed 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. Scotiabank lifted their price target on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $62.50.

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.