Chicago Partners Investment Group LLC Has $13.93 Million Position in Brookfield Co. (NYSE:BN)

Chicago Partners Investment Group LLC cut its holdings in shares of Brookfield Co. (NYSE:BN) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,630 shares of the company’s stock after selling 8,992 shares during the period. Chicago Partners Investment Group LLC’s holdings in Brookfield were worth $13,925,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Inc. OK lifted its holdings in Brookfield by 2.5% during the 3rd quarter. Capital Advisors Inc. OK now owns 775,293 shares of the company’s stock worth $41,207,000 after buying an additional 19,063 shares during the period. Values Added Financial LLC acquired a new stake in Brookfield during the 3rd quarter valued at approximately $239,000. Manitou Investment Management Ltd. lifted its position in shares of Brookfield by 2.8% in the 3rd quarter. Manitou Investment Management Ltd. now owns 33,366 shares of the company’s stock worth $1,773,000 after purchasing an additional 914 shares during the period. US Bancorp DE boosted its stake in shares of Brookfield by 8.2% in the 3rd quarter. US Bancorp DE now owns 40,350 shares of the company’s stock valued at $2,145,000 after purchasing an additional 3,071 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Brookfield by 2.9% during the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after buying an additional 292 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Performance

Shares of Brookfield stock opened at $53.15 on Friday. Brookfield Co. has a 52 week low of $31.05 and a 52 week high of $56.83. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The business has a 50 day moving average price of $51.82 and a 200-day moving average price of $46.46. The company has a market cap of $87.50 billion, a PE ratio of 91.64 and a beta of 1.54.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm posted $0.75 EPS. Brookfield’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts anticipate that Brookfield Co. will post 3.81 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. Brookfield’s dividend payout ratio is currently 55.17%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BN. Keefe, Bruyette & Woods lifted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank boosted their target price on shares of Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

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.