Synovus Financial Corp Has $4.86 Million Stock Holdings in Brookfield Co. (NYSE:BN)

Synovus Financial Corp reduced its stake in Brookfield Co. (NYSE:BN) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,391 shares of the company’s stock after selling 9,868 shares during the period. Synovus Financial Corp’s holdings in Brookfield were worth $4,857,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Brookfield by 3.9% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after purchasing an additional 257 shares in the last quarter. Blue Trust Inc. raised its holdings in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after buying an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after buying an additional 296 shares during the last quarter. Finally, Caprock Group LLC increased its position in shares of Brookfield by 2.5% during the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the topic of several recent research reports. BMO Capital Markets reaffirmed 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. Scotiabank lifted their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Performance

Shares of BN opened at $58.68 on Friday. The stock has a 50 day moving average of $56.74 and a 200 day moving average of $49.83. The company has a market capitalization of $96.63 billion, a price-to-earnings ratio of 124.85 and a beta of 1.55. Brookfield Co. has a 12 month low of $37.77 and a 12 month high of $62.44. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s payout ratio is 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.