Stifel Financial Corp Trims Stock Holdings in Brookfield Co. (NYSE:BN)

Stifel Financial Corp lowered its stake in shares of Brookfield Co. (NYSE:BN) by 4.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,575,280 shares of the company’s stock after selling 65,350 shares during the period. Stifel Financial Corp’s holdings in Brookfield were worth $83,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Brookfield by 131.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after acquiring an additional 263,375 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Brookfield by 5.7% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 purchasing an additional 351,231 shares during the period. Partners Group Holding AG raised its position in shares of Brookfield by 53.5% in the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after buying an additional 142,603 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Brookfield by 324.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after buying an additional 80,762 shares during the period. 61.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BN shares. Scotiabank upped their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. 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 note on Friday, August 9th. 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 note on Friday, November 15th. TD Securities raised their price objective 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Price Performance

Shares of Brookfield stock opened at $59.82 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. Brookfield Co. has a 52-week low of $35.51 and a 52-week high of $62.44. The company has a fifty day moving average of $56.11 and a 200-day moving average of $49.32. The stock has a market capitalization of $98.51 billion, a price-to-earnings ratio of 127.28 and a beta of 1.55.

Brookfield Dividend Announcement

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 given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.53%. Brookfield’s payout ratio is 68.09%.

About Brookfield

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.