Algert Global LLC Purchases New Position in Brookfield Co. (NYSE:BN)

Algert Global LLC acquired a new position in shares of Brookfield Co. (NYSE:BN) during the third quarter, HoldingsChannel reports. The institutional investor acquired 29,804 shares of the company’s stock, valued at approximately $1,585,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Brookfield during the 2nd quarter worth $128,321,000. Wulff Hansen & CO. increased its position in shares of Brookfield by 4,054.0% during the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock worth $64,076,000 after purchasing an additional 1,505,372 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Brookfield by 4,149.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock valued at $41,263,000 after purchasing an additional 758,076 shares during the last quarter. Glazer Capital LLC acquired a new stake in shares of Brookfield in the 2nd quarter valued at about $30,740,000. Finally, Wolverine Asset Management LLC grew its stake in Brookfield by 6,934.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 710,095 shares of the company’s stock worth $29,497,000 after buying an additional 700,000 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN opened at $61.37 on Thursday. The firm has a market capitalization of $101.06 billion, a PE ratio of 130.51 and a beta of 1.53. The stock’s 50 day moving average is $54.74 and its two-hundred day moving average is $48.46. Brookfield Co. has a twelve month low of $33.72 and a twelve month high of $61.63. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Analysts Set New Price Targets

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