Atlantic Union Bankshares Corp Sells 2,923 Shares of Brookfield Co. (NYSE:BN)

Atlantic Union Bankshares Corp trimmed its position in shares of Brookfield Co. (NYSE:BN) by 3.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,217 shares of the company’s stock after selling 2,923 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Brookfield were worth $4,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC raised its holdings in Brookfield by 7.6% during the 3rd quarter. Icon Wealth Advisors LLC now owns 10,851 shares of the company’s stock worth $577,000 after purchasing an additional 768 shares during the last quarter. PEAK6 Investments LLC boosted its position in shares of Brookfield by 181.1% during the 3rd quarter. PEAK6 Investments LLC now owns 13,971 shares of the company’s stock valued at $743,000 after purchasing an additional 9,001 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Brookfield by 3.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 503,959 shares of the company’s stock worth $26,795,000 after purchasing an additional 16,783 shares during the period. Providence Capital Advisors LLC increased its holdings in Brookfield by 1.0% in the third quarter. Providence Capital Advisors LLC now owns 139,189 shares of the company’s stock worth $7,398,000 after purchasing an additional 1,378 shares in the last quarter. Finally, Corsair Capital Management L.P. acquired a new position in Brookfield in the third quarter valued at approximately $532,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of Brookfield stock opened at $61.37 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $101.06 billion, a PE ratio of 130.58 and a beta of 1.53. The business’s 50-day moving average price is $54.97 and its 200-day moving average price is $48.55. Brookfield Co. has a 12 month low of $33.72 and a 12 month high of $61.63.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s payout ratio is 68.09%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BN shares. TD Securities boosted their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Scotiabank upped their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.31.

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.