Franklin Resources Inc. Has $33.94 Million Stake in Brookfield Co. (NYSE:BN)

Franklin Resources Inc. lowered its holdings in shares of Brookfield Co. (NYSE:BN) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 623,098 shares of the company’s stock after selling 46,982 shares during the period. Franklin Resources Inc.’s holdings in Brookfield were worth $33,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC bought a new stake in Brookfield in the second quarter valued at $31,000. First Personal Financial Services bought a new stake in Brookfield in the third quarter valued at $42,000. FSA Wealth Management LLC acquired a new position in Brookfield during the third quarter worth $42,000. Finally, Prestige Wealth Management Group LLC lifted its holdings in shares of Brookfield by 137.0% during the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BN shares. Scotiabank upped 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, November 15th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Price Performance

Shares of BN stock opened at $55.46 on Thursday. Brookfield Co. has a 1 year low of $37.77 and a 1 year high of $62.44. 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’s 50 day moving average is $57.05 and its 200-day moving average is $50.19. The firm has a market capitalization of $91.35 billion, a price-to-earnings ratio of 118.00 and a beta of 1.55.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend 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.