Natixis Advisors LLC Sells 47,947 Shares of Brookfield Co. (NYSE:BN)

Natixis Advisors LLC reduced its stake in shares of Brookfield Co. (NYSE:BN) by 9.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 476,727 shares of the company’s stock after selling 47,947 shares during the period. Natixis Advisors LLC’s holdings in Brookfield were worth $25,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BN. Blue Trust Inc. grew its stake in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Brookfield during the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new position in shares of Brookfield during the second quarter valued at about $36,000. First Personal Financial Services bought a new stake in shares of Brookfield in the third quarter worth about $42,000. Finally, Nisa Investment Advisors LLC lifted its position 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 buying an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

BN opened at $56.11 on Tuesday. Brookfield Co. has a 1 year low of $33.61 and a 1 year high of $60.20. The firm has a market capitalization of $92.40 billion, a PE ratio of 119.39 and a beta of 1.53. 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 $53.65 and its two-hundred day moving average is $47.86.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.57%. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BN shares. Keefe, Bruyette & Woods raised their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada reduced their price target 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 price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank boosted their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday. Finally, 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 report on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and a consensus target price 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.