Brookfield Co. (NYSE:BN) Stock Position Raised by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC raised its position in shares of Brookfield Co. (NYSE:BN) by 73.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,535 shares of the company’s stock after purchasing an additional 4,044 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Brookfield were worth $548,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after buying an additional 263,375 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Brookfield by 5.7% in 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 during the period. Geode Capital Management LLC lifted its position in shares of Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Brookfield by 10.9% during 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. Finally, Partners Group Holding AG grew its position in Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock valued at $21,754,000 after purchasing an additional 142,603 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.5 %

Shares of BN stock opened at $60.40 on Wednesday. The stock’s 50 day simple moving average is $58.45 and its 200 day simple moving average is $53.43. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The company has a market capitalization of $99.41 billion, a price-to-earnings ratio of 128.52 and a beta of 1.56.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s payout ratio is 68.09%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BN shares. Morgan Stanley assumed coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank upped their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. Finally, CIBC boosted their price target on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Two 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, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $60.06.

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.