Avanza Fonder AB Buys New Holdings in Brookfield Co. (NYSE:BN)

Avanza Fonder AB purchased a new position in shares of Brookfield Co. (NYSE:BN) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 83,961 shares of the company’s stock, valued at approximately $4,824,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position in shares of Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after acquiring an additional 221 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Brookfield by 2.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after purchasing an additional 292 shares during the last quarter. Caprock Group LLC boosted its stake in Brookfield by 2.5% during the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock valued at $655,000 after purchasing an additional 300 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Brookfield by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 113,397 shares of the company’s stock worth $6,027,000 after purchasing an additional 357 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Brookfield by 23.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,970 shares of the company’s stock worth $113,000 after purchasing an additional 369 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Scotiabank lifted their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Up 1.0 %

Shares of NYSE:BN opened at $58.16 on Friday. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.44. The company has a market capitalization of $87.73 billion, a PE ratio of 123.75 and a beta of 1.56. The business has a fifty day moving average price of $58.13 and a two-hundred day moving average price of $52.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.55%. Brookfield’s 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.