Icon Wealth Advisors LLC Increases Stake in Brookfield Co. (NYSE:BN)

Icon Wealth Advisors LLC raised its holdings in Brookfield Co. (NYSE:BN) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,851 shares of the company’s stock after buying an additional 768 shares during the period. Icon Wealth Advisors LLC’s holdings in Brookfield were worth $577,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BN. PNC Financial Services Group Inc. increased its stake in shares of Brookfield by 5.7% during the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after buying an additional 9,915 shares during the period. Cetera Investment Advisers increased its position in shares of Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after purchasing an additional 248,506 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Brookfield by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after purchasing an additional 351,231 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Brookfield by 324.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after purchasing an additional 80,762 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $61.37 on Friday. The stock has a market capitalization of $101.06 billion, a price-to-earnings ratio of 130.58 and a beta of 1.53. The firm’s fifty day simple moving average is $55.15 and its 200-day simple moving average is $48.64. 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 $34.97 and a 12 month high of $61.77.

Brookfield Dividend Announcement

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 issued a $0.08 dividend. 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 0.52%. Brookfield’s payout ratio is 68.09%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. 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 note on Friday, November 15th. Scotiabank raised their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.31.

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.