Wolverine Asset Management LLC Cuts Stock Holdings in Brookfield Co. (NYSE:BN)

Wolverine Asset Management LLC reduced its stake in Brookfield Co. (NYSE:BN) by 98.7% during the third quarter, HoldingsChannel reports. The firm owned 8,995 shares of the company’s stock after selling 701,100 shares during the period. Wolverine Asset Management LLC’s holdings in Brookfield were worth $478,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BN. Blue Trust Inc. raised its holdings in shares of Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Kings Path Partners LLC purchased a new stake in shares of Brookfield in the 2nd quarter valued at $31,000. Family Firm Inc. purchased a new stake in shares of Brookfield in the 2nd quarter valued at $36,000. First Personal Financial Services purchased a new position in Brookfield in the 3rd quarter worth $42,000. Finally, Nisa Investment Advisors LLC lifted its stake in 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 purchasing an additional 450 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

BN opened at $57.62 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The company has a market cap of $94.88 billion, a price-to-earnings ratio of 99.35 and a beta of 1.53. The stock has a fifty day simple moving average of $53.05 and a two-hundred day simple moving average of $47.47. Brookfield Co. has a 12-month low of $33.09 and a 12-month high of $59.23.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. TD Securities increased their price target 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, Scotiabank upped their price objective on shares of Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

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.