Fmr LLC Sells 204,027 Shares of Brookfield Co. (NYSE:BN)

Fmr LLC lessened its position in Brookfield Co. (NYSE:BN) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,162,455 shares of the company’s stock after selling 204,027 shares during the quarter. Fmr LLC owned approximately 0.62% of Brookfield worth $539,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BN. PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield by 5.7% during the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after purchasing an additional 9,915 shares during the last quarter. Cetera Investment Advisers raised its stake in Brookfield by 1,022.6% during the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after buying an additional 248,506 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew 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 last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after acquiring an additional 2,818,716 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

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

Brookfield Stock Performance

BN stock opened at $61.37 on Friday. 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 Co. has a 1 year low of $34.97 and a 1 year high of $61.77. The company has a market cap of $101.06 billion, a P/E ratio of 130.77 and a beta of 1.53. The stock’s fifty day moving average price is $55.15 and its 200-day moving average price is $48.64.

Brookfield Announces Dividend

The company 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. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. Brookfield’s dividend 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.