Brookfield Co. (NYSE:BN) Shares Sold by MAI Capital Management

MAI Capital Management decreased its stake in shares of Brookfield Co. (NYSE:BN) by 0.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 185,739 shares of the company’s stock after selling 1,309 shares during the period. MAI Capital Management’s holdings in Brookfield were worth $9,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BN. Thrivent Financial for Lutherans bought a new stake in shares of Brookfield in the 3rd quarter worth $223,000. Sather Financial Group Inc raised its position in Brookfield by 0.3% in the third quarter. Sather Financial Group Inc now owns 1,543,740 shares of the company’s stock worth $82,050,000 after acquiring an additional 4,639 shares in the last quarter. Coastline Trust Co acquired a new stake in Brookfield in the 3rd quarter valued at about $74,000. Huntington National Bank boosted its position in shares of Brookfield by 8.8% during the 3rd quarter. Huntington National Bank now owns 5,445 shares of the company’s stock valued at $289,000 after purchasing an additional 439 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of Brookfield in the 3rd quarter worth approximately $435,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BN has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank raised their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday. Keefe, Bruyette & Woods boosted their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. TD Securities upped their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Trading Down 1.2 %

Shares of NYSE BN opened at $56.11 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield Co. has a one year low of $33.61 and a one year high of $60.20. The business has a 50-day moving average price of $53.65 and a two-hundred day moving average price of $47.86. The firm has a market capitalization of $92.40 billion, a PE ratio of 119.39 and a beta of 1.53.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio is currently 68.09%.

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.