Spire Wealth Management Acquires Shares of 2,024 Brookfield Co. (NYSE:BN)

Spire Wealth Management acquired a new stake in shares of Brookfield Co. (NYSE:BN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,024 shares of the company’s stock, valued at approximately $116,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Personal Financial Services bought a new stake in shares of Brookfield during the third quarter worth $42,000. FSA Wealth Management LLC bought a new stake in shares of Brookfield during the third quarter worth $42,000. Prestige Wealth Management Group LLC grew its stake 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 worth $46,000 after buying an additional 500 shares during the last quarter. Continuum Advisory LLC bought a new stake in shares of Brookfield during the third quarter worth $55,000. Finally, Pinnacle Bancorp Inc. grew its stake in shares of Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after buying an additional 221 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Morgan Stanley assumed coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. CIBC boosted their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Finally, Scotiabank boosted their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average price target of $60.28.

Brookfield Price Performance

BN stock opened at $59.48 on Friday. The firm has a market cap of $97.89 billion, a price-to-earnings ratio of 126.56 and a beta of 1.57. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12-month low of $38.18 and a 12-month high of $62.78. The company’s fifty day simple moving average is $58.54 and its 200 day simple moving average is $54.08.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. Brookfield’s dividend payout ratio is currently 68.09%.

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.