Avanza Fonder AB Purchases New Position in Brookfield Co. (NYSE:BN)

Avanza Fonder AB acquired a new stake in Brookfield Co. (NYSE:BN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 83,961 shares of the company’s stock, valued at approximately $4,824,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares in the last quarter. Toronto Dominion Bank boosted its position in Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after buying an additional 1,301,072 shares during the period. Sequoia Financial Advisors LLC grew its holdings in Brookfield by 4,149.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock worth $41,263,000 after acquiring an additional 758,076 shares during the last quarter. Bamco Inc. NY increased its position in Brookfield by 62.6% in the 3rd quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock valued at $103,614,000 after acquiring an additional 750,726 shares during the period. Finally, Glazer Capital LLC bought a new position in shares of Brookfield during the second quarter valued at $30,740,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Up 1.0 %

Shares of NYSE:BN opened at $58.16 on Friday. The business’s 50-day moving average is $58.13 and its 200-day moving average is $52.50. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.44. The company has a market capitalization of $87.73 billion, a price-to-earnings ratio of 123.75 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03.

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 given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Analyst Upgrades and Downgrades

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

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.