Citizens Financial Group Inc. RI Invests $218,000 in Brookfield Co. (NYSE:BN)

Citizens Financial Group Inc. RI acquired a new stake in Brookfield Co. (NYSE:BN) in the third quarter, Holdings Channel reports. The institutional investor acquired 4,110 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Nicholas Hoffman & Company LLC. increased its stake in shares of Brookfield by 3.9% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after acquiring an additional 257 shares during the last quarter. Blue Trust Inc. increased its stake in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after purchasing an additional 292 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of Brookfield by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock valued at $655,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN opened at $58.27 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $33.72 and a twelve month high of $60.20. The stock has a market capitalization of $95.95 billion, a P/E ratio of 123.98 and a beta of 1.53. The company has a 50 day moving average of $54.36 and a 200-day moving average of $48.21.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Analyst Ratings Changes

BN has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Scotiabank increased their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, TD Securities increased their price objective on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Company 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.