LGT Capital Partners LTD. Has $42.11 Million Stock Holdings in Brookfield Co. (NYSE:BN)

LGT Capital Partners LTD. lowered its holdings in shares of Brookfield Co. (NYSE:BN) by 5.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 792,000 shares of the company’s stock after selling 45,000 shares during the period. Brookfield makes up approximately 1.5% of LGT Capital Partners LTD.’s holdings, making the stock its 24th largest holding. LGT Capital Partners LTD.’s holdings in Brookfield were worth $42,109,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. boosted its position in shares of Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after purchasing an additional 257 shares in the last quarter. Blue Trust Inc. grew its stake in Brookfield by 62.8% in 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 during the period. First Trust Direct Indexing L.P. grew its stake in Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after acquiring an additional 292 shares during the period. Rosenberg Matthew Hamilton raised its position in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares during the period. Finally, Caprock Group LLC lifted its holdings in shares of Brookfield by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after purchasing an additional 300 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BN has been the topic of several research reports. TD Securities upped 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. 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. Scotiabank lifted their price target on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada cut their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Performance

Shares of BN opened at $56.11 on Tuesday. The stock has a 50 day moving average of $53.65 and a 200 day moving average of $47.86. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12 month low of $33.61 and a 12 month high of $60.20. The company has a market capitalization of $92.40 billion, a price-to-earnings ratio of 119.39 and a beta of 1.53.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s payout ratio is 68.09%.

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.