Raymond James Trust N.A. Sells 1,297 Shares of Brookfield Co. (NYSE:BN)

Raymond James Trust N.A. trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 10.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 11,148 shares of the company’s stock after selling 1,297 shares during the quarter. Raymond James Trust N.A.’s holdings in Brookfield were worth $593,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its position 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 acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new stake in Brookfield in the second quarter valued at about $31,000. First Personal Financial Services acquired a new position in Brookfield in the third quarter valued at about $42,000. Family Firm Inc. bought a new position in Brookfield during the second quarter worth about $36,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after buying an additional 450 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

BN stock opened at $59.71 on Tuesday. The stock has a 50-day moving average price of $54.55 and a two-hundred day moving average price of $48.35. Brookfield Co. has a 1 year low of $33.72 and a 1 year high of $60.20. The stock has a market cap of $98.32 billion, a PE ratio of 127.03 and a beta of 1.53. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio is presently 68.09%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BN shares. Scotiabank increased their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. TD Securities lifted their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada lowered their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

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.