Algert Global LLC Makes New Investment in Brookfield Co. (NYSE:BN)

Algert Global LLC acquired a new stake in Brookfield Co. (NYSE:BN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,804 shares of the company’s stock, valued at approximately $1,585,000.

Several other large investors have also made changes to their positions in BN. Cerity Partners LLC increased its stake in shares of Brookfield by 20.2% during the third quarter. Cerity Partners LLC now owns 97,719 shares of the company’s stock worth $5,194,000 after purchasing an additional 16,425 shares in the last quarter. Nwam LLC purchased a new stake in Brookfield during the 3rd quarter worth approximately $370,000. Biltmore Family Office LLC acquired a new position in shares of Brookfield during the third quarter valued at approximately $213,000. Charles Schwab Investment Management Inc. raised its position in shares of Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after buying an additional 351,231 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Brookfield by 8.3% in the third quarter. Intech Investment Management LLC now owns 74,102 shares of the company’s stock valued at $3,940,000 after purchasing an additional 5,662 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Up 2.1 %

BN opened at $61.37 on Thursday. The business has a fifty day moving average price of $54.74 and a 200 day moving average price of $48.46. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. Brookfield Co. has a 12 month low of $33.72 and a 12 month high of $61.63. The stock has a market capitalization of $101.06 billion, a price-to-earnings ratio of 130.51 and a beta of 1.53.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BN. Royal Bank of Canada reduced their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. TD Securities raised their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Scotiabank boosted their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock 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.