MAI Capital Management Trims Stock Holdings in Brookfield Co. (NYSE:BN)

MAI Capital Management cut its holdings in shares of Brookfield Co. (NYSE:BN) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,739 shares of the company’s stock after selling 1,309 shares during the quarter. MAI Capital Management’s holdings in Brookfield were worth $9,872,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in Brookfield by 352.5% in the first quarter. Acadian Asset Management LLC now owns 196,670 shares of the company’s stock valued at $8,232,000 after acquiring an additional 153,205 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Brookfield by 86.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 19,600 shares of the company’s stock valued at $821,000 after purchasing an additional 9,100 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new position in shares of Brookfield during the first quarter worth about $212,000. Bessemer Group Inc. grew its stake in Brookfield by 3.7% in the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after purchasing an additional 113,241 shares in the last quarter. Finally, Pitcairn Co. bought a new stake in Brookfield in the first quarter valued at about $715,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Down 1.2 %

Shares of NYSE:BN opened at $56.11 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The company’s 50-day moving average price is $53.65 and its 200 day moving average price is $47.86. The company has a market cap of $92.40 billion, a PE ratio of 119.39 and a beta of 1.53. Brookfield Co. has a fifty-two week low of $33.61 and a fifty-two week high of $60.20.

Brookfield Announces Dividend

The firm also recently declared 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 of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.57%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Analysts Set New Price Targets

A number of research analysts have commented on BN shares. Scotiabank increased their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday. Royal Bank of Canada decreased their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. BMO Capital Markets reissued an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a report on Friday. Keefe, Bruyette & Woods raised their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

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.