Brookfield Co. (NYSE:BN) Stake Increased by Pitcairn Co.

Pitcairn Co. grew its holdings in Brookfield Co. (NYSE:BN) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,117 shares of the company’s stock after purchasing an additional 2,913 shares during the period. Pitcairn Co.’s holdings in Brookfield were worth $1,388,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of Brookfield in the second quarter worth $31,000. First Personal Financial Services acquired a new position in shares of Brookfield in the third quarter worth $42,000. Family Firm Inc. acquired a new position in shares of Brookfield in the second quarter worth $36,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Brookfield by 63.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank increased their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Up 1.3 %

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

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. 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 is 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.