M&T Bank Corp Sells 1,704 Shares of Brookfield Co. (NYSE:BN)

M&T Bank Corp trimmed its stake in Brookfield Co. (NYSE:BN) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,458 shares of the company’s stock after selling 1,704 shares during the period. M&T Bank Corp’s holdings in Brookfield were worth $450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Guardian Wealth Management Inc. increased its holdings in shares of Brookfield by 1.0% in the third quarter. Guardian Wealth Management Inc. now owns 57,912 shares of the company’s stock worth $3,078,000 after buying an additional 564 shares during the period. Adalta Capital Management LLC grew its position in Brookfield by 0.4% during the 3rd quarter. Adalta Capital Management LLC now owns 172,588 shares of the company’s stock worth $9,173,000 after acquiring an additional 685 shares during the last quarter. Barclays PLC increased its stake in Brookfield by 521.1% in the 3rd quarter. Barclays PLC now owns 71,402 shares of the company’s stock worth $3,794,000 after purchasing an additional 59,906 shares during the period. Continuum Advisory LLC bought a new stake in Brookfield in the third quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Brookfield during the third quarter valued at approximately $6,485,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on BN shares. Scotiabank upped their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Trading Down 0.2 %

Shares of BN opened at $59.01 on Wednesday. Brookfield Co. has a 1-year low of $37.77 and a 1-year high of $62.44. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The firm’s 50-day moving average price is $57.00 and its 200-day moving average price is $50.15. The firm has a market capitalization of $97.17 billion, a price-to-earnings ratio of 125.55 and a beta of 1.55.

Brookfield Announces Dividend

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

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.