Thrivent Financial for Lutherans Acquires New Shares in Brookfield Co. (NYSE:BN)

Thrivent Financial for Lutherans bought a new position in shares of Brookfield Co. (NYSE:BN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,197 shares of the company’s stock, valued at approximately $223,000.

Other large investors have also recently made changes to their positions in the company. Sather Financial Group Inc lifted its holdings in shares of Brookfield by 0.3% in the third quarter. Sather Financial Group Inc now owns 1,543,740 shares of the company’s stock worth $82,050,000 after buying an additional 4,639 shares in the last quarter. Coastline Trust Co bought a new stake in Brookfield during the 3rd quarter worth approximately $74,000. Huntington National Bank lifted its stake in Brookfield by 8.8% in the 3rd quarter. Huntington National Bank now owns 5,445 shares of the company’s stock worth $289,000 after purchasing an additional 439 shares in the last quarter. Plato Investment Management Ltd bought a new position in Brookfield in the 3rd quarter valued at $435,000. Finally, Kovack Advisors Inc. purchased a new position in shares of Brookfield during the 3rd quarter valued at $220,000. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of BN stock opened at $59.82 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The firm has a market cap of $98.51 billion, a P/E ratio of 127.28 and a beta of 1.55. The business’s 50 day moving average price is $56.11 and its 200-day moving average price is $49.32. Brookfield Co. has a fifty-two week low of $35.51 and a fifty-two week high of $62.44.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. Brookfield’s dividend payout ratio is 68.09%.

Wall Street Analyst Weigh In

BN has been the subject of several research analyst reports. Scotiabank lifted their price objective on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. TD Securities boosted 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. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.