Pinnacle Financial Partners Inc Lowers Stock Position in Brookfield Co. (NYSE:BN)

Pinnacle Financial Partners Inc trimmed its position in Brookfield Co. (NYSE:BN) by 47.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,948 shares of the company’s stock after selling 31,361 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Brookfield were worth $1,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. M&G Plc bought a new stake in shares of Brookfield during the 1st quarter valued at $111,222,000. Cetera Investment Advisers lifted its position in shares of Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after acquiring an additional 248,506 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after acquiring an additional 80,762 shares during the period. Callan Family Office LLC purchased a new stake in shares of Brookfield during the second quarter worth about $446,000. Finally, Acadian Asset Management LLC grew its position in shares of Brookfield by 352.5% during the first quarter. Acadian Asset Management LLC now owns 196,670 shares of the company’s stock worth $8,232,000 after purchasing an additional 153,205 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their price target on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Scotiabank lifted their target price on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $53.31.

Brookfield Trading Down 0.5 %

Shares of NYSE BN opened at $57.62 on Thursday. Brookfield Co. has a 1-year low of $33.09 and a 1-year high of $59.23. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The business’s 50 day moving average is $53.05 and its two-hundred day moving average is $47.47. The stock has a market capitalization of $94.88 billion, a P/E ratio of 99.35 and a beta of 1.53.

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.