11,587 Shares in Brookfield Co. (NYSE:BN) Acquired by HB Wealth Management LLC

Posted by Defense World Staff on Apr 2nd, 2023

HB Wealth Management LLC purchased a new position in shares of Brookfield Co. (NYSE:BN – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 11,587 shares of the company’s stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. First Command Bank bought a new stake in Brookfield during the 4th quarter valued at $37,000. Hanson & Doremus Investment Management bought a new stake in Brookfield during the 4th quarter valued at $38,000. Baystate Wealth Management LLC bought a new stake in Brookfield during the 4th quarter valued at $40,000. Rosenberg Matthew Hamilton bought a new stake in Brookfield during the 4th quarter valued at $48,000. Finally, Quent Capital LLC bought a new stake in Brookfield during the 4th quarter valued at $57,000. 60.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the business’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $11.96, for a total transaction of $295,938.24. Following the transaction, the director now directly owns 21,104,923 shares in the company, valued at approximately $252,414,879.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 11.00% of the stock is owned by company insiders.

Brookfield Price Performance

Shares of BN stock opened at $32.59 on Friday. Brookfield Co. has a 1-year low of $28.25 and a 1-year high of $59.16. The stock’s fifty day simple moving average is $33.69. The company has a current ratio of 1.22, a quick ratio of 1.04 and a debt-to-equity ratio of 1.47. The stock has a market cap of $53.41 billion, a P/E ratio of 28.09 and a beta of 1.41.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Tuesday, February 28th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, February 27th. This represents a $0.28 annualized dividend and a yield of 0.86%. Brookfield’s dividend payout ratio (DPR) is 24.14%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Brookfield from $46.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, February 10th. TD Securities cut their price target on Brookfield from $63.00 to $62.00 and set an “action list buy” rating on the stock in a report on Friday, February 10th. Royal Bank of Canada lifted their price target on Brookfield from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, February 10th. Credit Suisse Group upgraded Brookfield from a “neutral” rating to an “outperform” rating and set a $41.00 price target on the stock in a report on Monday, March 20th. Finally, TheStreet upgraded Brookfield from a “d+” rating to a “c” rating in a report on Monday, January 23rd. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield has an average rating of “Buy” and an average price target of $51.00.

Brookfield Company Profile

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Brookfield Corp. engages in the management of public and private investment products and services for institutional and retail clients. It operates through the following business segments: Renewable Power and Transition, Infrastructure, Private Equity, Real Estate, and Credit and Insurance Solutions.

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Institutional Ownership by Quarter for Brookfield (NYSE:BN)

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