Axxcess Wealth Management LLC Trims Stock Position in Brookfield Co. (NYSE:BN)

Axxcess Wealth Management LLC decreased its position in Brookfield Co. (NYSE:BN) by 48.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,839 shares of the company’s stock after selling 4,590 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Brookfield were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in Brookfield by 6.2% in the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the period. The Manufacturers Life Insurance Company raised its position in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after acquiring an additional 196,790 shares during the period. Toronto Dominion Bank increased its position in shares of Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Brookfield by 11.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,507,113 shares of the company’s stock worth $373,527,000 after acquiring an additional 668,630 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE BN opened at $53.65 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The company has a market capitalization of $88.34 billion, a PE ratio of 178.83 and a beta of 1.65. The company has a fifty day moving average of $57.07 and a two-hundred day moving average of $55.96.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. As a group, analysts expect 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. Shareholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.67%. Brookfield’s dividend payout ratio is presently 120.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BN shares. Scotiabank upped their price objective on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Morgan Stanley started coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective on the stock. TD Securities upped their price objective on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, CIBC upped their price objective on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $64.00.

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.