Geneos Wealth Management Inc. Buys Shares of 15,043 Brookfield Co. (NYSE:BN)

Geneos Wealth Management Inc. purchased a new position in shares of Brookfield Co. (NYSE:BN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,043 shares of the company’s stock, valued at approximately $864,000.

Other hedge funds have also made changes to their positions in the company. Berbice Capital Management LLC acquired a new stake in Brookfield in the fourth quarter worth $80,000. Janney Montgomery Scott LLC increased its holdings in shares of Brookfield by 19.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 68,583 shares of the company’s stock worth $3,940,000 after acquiring an additional 11,136 shares during the period. Albion Financial Group UT bought a new stake in Brookfield in the 4th quarter valued at about $57,000. Simon Quick Advisors LLC acquired a new position in Brookfield during the 4th quarter valued at about $449,000. Finally, Atomi Financial Group Inc. increased its stake in shares of Brookfield by 15.5% in the fourth quarter. Atomi Financial Group Inc. now owns 13,999 shares of the company’s stock valued at $804,000 after purchasing an additional 1,875 shares during the period. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. CIBC boosted their price objective on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Morgan Stanley began coverage on Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Scotiabank lifted their price objective 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.06.

Brookfield Price Performance

Shares of NYSE BN opened at $60.10 on Tuesday. The firm has a 50-day moving average of $58.38 and a two-hundred day moving average of $53.32. The company has a market capitalization of $98.92 billion, a price-to-earnings ratio of 127.88 and a beta of 1.56. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.44.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, December 16th. 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.