The Manufacturers Life Insurance Company Has $623.78 Million Position in Brookfield Co. (NYSE:BN)

The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Co. (NYSE:BN) by 31.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,736,712 shares of the company’s stock after acquiring an additional 2,818,716 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Brookfield were worth $623,783,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC acquired a new stake in shares of Brookfield in the second quarter worth $31,000. Family Firm Inc. acquired a new stake in shares of Brookfield in the second quarter worth $36,000. First Personal Financial Services bought a new position in Brookfield during the third quarter worth $42,000. Finally, Nisa Investment Advisors LLC raised its stake in Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the topic of several research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Price Performance

Shares of BN stock opened at $59.71 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The stock’s fifty day simple moving average is $54.55 and its 200 day simple moving average is $48.35. Brookfield Co. has a one year low of $33.72 and a one year high of $60.20. The firm has a market cap of $98.32 billion, a price-to-earnings ratio of 127.03 and a beta of 1.53.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is 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.