Fiduciary Trust Co Decreases Position in Brookfield Co. (NYSE:BN)

Fiduciary Trust Co decreased its position in Brookfield Co. (NYSE:BN) by 1.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,587 shares of the company’s stock after selling 621 shares during the period. Fiduciary Trust Co’s holdings in Brookfield were worth $1,891,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Brookfield by 3.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 503,959 shares of the company’s stock valued at $26,795,000 after acquiring an additional 16,783 shares during the last quarter. Providence Capital Advisors LLC grew its position in shares of Brookfield by 1.0% in the third quarter. Providence Capital Advisors LLC now owns 139,189 shares of the company’s stock valued at $7,398,000 after purchasing an additional 1,378 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in shares of Brookfield during the 3rd quarter worth approximately $532,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Brookfield during the 3rd quarter worth approximately $120,000. Finally, BNP Paribas raised its position in shares of Brookfield by 4.2% during the 3rd quarter. BNP Paribas now owns 197,225 shares of the company’s stock worth $10,574,000 after purchasing an additional 8,000 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BN. Scotiabank raised their price target on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. TD Securities boosted their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada decreased their price target 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. BMO Capital Markets reissued 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Price Performance

Brookfield stock opened at $61.37 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The company has a market cap of $101.06 billion, a price-to-earnings ratio of 130.58 and a beta of 1.53. Brookfield Co. has a 1 year low of $34.97 and a 1 year high of $61.77. The firm has a 50 day moving average price of $55.15 and a 200 day moving average price of $48.64.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. Brookfield’s payout ratio is 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.