PNC Financial Services Group Inc. Sells 18,282 Shares of Brookfield Co. (NYSE:BN)

PNC Financial Services Group Inc. lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 10.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 165,416 shares of the company’s stock after selling 18,282 shares during the period. PNC Financial Services Group Inc.’s holdings in Brookfield were worth $9,503,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BN. Concurrent Investment Advisors LLC bought a new stake in shares of Brookfield during the 3rd quarter valued at about $246,000. Axxcess Wealth Management LLC boosted its position in shares of Brookfield by 60.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 9,429 shares of the company’s stock valued at $501,000 after acquiring an additional 3,564 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Brookfield by 11.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 54,059 shares of the company’s stock valued at $2,873,000 after acquiring an additional 5,392 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Brookfield by 6.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 22,615 shares of the company’s stock valued at $1,202,000 after acquiring an additional 1,355 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Brookfield during the 3rd quarter valued at about $1,878,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of Brookfield stock opened at $49.85 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The company has a market cap of $82.06 billion, a PE ratio of 166.18 and a beta of 1.65. The business has a 50 day moving average of $57.96 and a 200 day moving average of $55.88. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, equities research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.72%. Brookfield’s dividend payout ratio (DPR) is 120.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Scotiabank raised their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. TD Securities boosted their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, CIBC boosted their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Profile

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.