Brookfield Co. (NYSE:BN) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC reduced its position in Brookfield Co. (NYSE:BN) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,242 shares of the company’s stock after selling 254 shares during the period. Summit Trail Advisors LLC’s holdings in Brookfield were worth $1,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pitcairn Co. lifted its position in shares of Brookfield by 12.6% during the third quarter. Pitcairn Co. now owns 26,117 shares of the company’s stock worth $1,388,000 after purchasing an additional 2,913 shares during the last quarter. Algert Global LLC bought a new position in shares of Brookfield during the third quarter worth about $1,585,000. Cerity Partners LLC raised its stake in Brookfield by 20.2% during the third quarter. Cerity Partners LLC now owns 97,719 shares of the company’s stock worth $5,194,000 after acquiring an additional 16,425 shares during the period. Nwam LLC acquired a new stake in Brookfield during the third quarter worth about $370,000. Finally, Biltmore Family Office LLC acquired a new stake in Brookfield during the third quarter worth about $213,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BN shares. Keefe, Bruyette & Woods increased their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Scotiabank raised their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Royal Bank of Canada lowered their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two 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 company has a consensus rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Up 1.3 %

BN stock opened at $58.27 on Monday. The company has a 50 day moving average of $54.36 and a two-hundred day moving average of $48.24. 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 $33.72 and a 12-month high of $60.20. The company has a market cap of $95.95 billion, a price-to-earnings ratio of 123.98 and a beta of 1.53.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. Brookfield’s dividend payout ratio is currently 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.