6,565 Shares in Brookfield Co. (NYSE:BN) Acquired by Lincoln National Corp

Posted by Defense World Staff on May 12th, 2023

Lincoln National Corp acquired a new position in shares of Brookfield Co. (NYSE:BN – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,565 shares of the company’s stock, valued at approximately $207,000.

Several other large investors have also recently modified their holdings of the company. TD Asset Management Inc acquired a new position in Brookfield during the 4th quarter valued at approximately $889,171,000. Bank of Montreal Can acquired a new position in Brookfield during the 4th quarter valued at approximately $784,527,000. Markel Corp acquired a new position in Brookfield during the 4th quarter valued at approximately $274,197,000. DAVENPORT & Co LLC acquired a new position in Brookfield during the 4th quarter valued at approximately $261,988,000. Finally, Cooke & Bieler LP acquired a new position in Brookfield during the 4th quarter valued at approximately $204,079,000. Institutional investors own 60.90% of the company’s stock.

Brookfield Stock Performance

Shares of NYSE BN opened at $31.20 on Friday. The business’s fifty day moving average price is $31.39. Brookfield Co. has a 1 year low of $28.25 and a 1 year high of $54.08. The stock has a market capitalization of $51.10 billion, a P/E ratio of 26.90 and a beta of 1.41. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.22 and a quick ratio of 1.03.

Brookfield (NYSE:BN – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported ($0.23) earnings per share (EPS) for the quarter. Brookfield had a return on equity of 1.55% and a net margin of 2.22%. The firm had revenue of $24.21 billion for the quarter, compared to analysts’ expectations of $1.02 billion.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Brookfield news, Director Multi-Strategy Mast Brookfield sold 24,744 shares of the stock in a transaction on Tuesday, March 28th. The shares were 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 of the company’s stock, valued at $252,414,879.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.00% of the stock is currently owned by insiders.

Brookfield Company Profile

(Get Rating)

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.