Verdence Capital Advisors LLC Invests $221,000 in Brookfield Co. (NYSE:BN)

Verdence Capital Advisors LLC purchased a new stake in Brookfield Co. (NYSE:BN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,514 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently added to or reduced their stakes in BN. Eldred Rock Partners LLC acquired a new stake in Brookfield during the fourth quarter worth about $9,868,000. Private Trust Co. NA raised its position in shares of Brookfield by 30.5% during the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock valued at $64,000 after buying an additional 480 shares during the period. JPMorgan Chase & Co. lifted its holdings in Brookfield by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock valued at $182,650,000 after acquiring an additional 273,474 shares during the last quarter. Northside Capital Management LLC purchased a new position in Brookfield in the fourth quarter worth approximately $229,000. Finally, Lazard Asset Management LLC acquired a new stake in Brookfield during the third quarter worth $23,667,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BN. BMO Capital Markets increased their price target on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. CIBC lifted their price target on shares of Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. TD Securities upped their price objective on shares of Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a report on Sunday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $53.00 target price on shares of Brookfield in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.45.

Brookfield Stock Performance

Brookfield stock opened at $40.37 on Wednesday. The company has a market cap of $66.29 billion, a PE ratio of 65.11 and a beta of 1.49. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17. The company has a fifty day moving average price of $40.78 and a two-hundred day moving average price of $37.85. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business earned $1.12 earnings per share. Brookfield’s revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.79%. This is an increase from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s dividend payout ratio is currently 51.61%.

Insider Buying and Selling

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.00% of the company’s stock.

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.