Cidel Asset Management Inc. Sells 980 Shares of Brookfield Co. (NYSE:BN)

Cidel Asset Management Inc. cut its stake in Brookfield Co. (NYSE:BN) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,974 shares of the company’s stock after selling 980 shares during the period. Cidel Asset Management Inc.’s holdings in Brookfield were worth $14,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Brookfield by 131.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after purchasing an additional 263,375 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Brookfield by 5.7% during the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after acquiring an additional 9,915 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after acquiring an additional 351,231 shares during the last quarter. Finally, Partners Group Holding AG increased its position in Brookfield by 53.5% in the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after purchasing an additional 142,603 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on BN shares. CIBC upped their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Scotiabank raised their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley started coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Brookfield Trading Down 1.0 %

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

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. Brookfield’s payout ratio is 68.09%.

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.