Apollon Wealth Management LLC Sells 690 Shares of Brookfield Co. (NYSE:BN)

Apollon Wealth Management LLC lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,260 shares of the company’s stock after selling 690 shares during the quarter. Apollon Wealth Management LLC’s holdings in Brookfield were worth $811,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after purchasing an additional 1,063,110 shares in the last quarter. Capital World Investors increased its stake in Brookfield by 5.1% during the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after purchasing an additional 2,497,509 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Brookfield by 1.3% during the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after acquiring an additional 299,029 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Brookfield by 5.0% in the 2nd quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock worth $236,727,000 after acquiring an additional 269,813 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Brookfield by 3.7% in the 1st quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after acquiring an additional 113,241 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN opened at $56.79 on Friday. 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 firm has a market capitalization of $93.52 billion, a PE ratio of 120.83 and a beta of 1.53. Brookfield Co. has a twelve month low of $33.61 and a twelve month high of $60.20. The company has a 50-day moving average price of $53.47 and a two-hundred day moving average price of $47.65.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given 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 yield of 0.56%. Brookfield’s dividend payout ratio is presently 68.09%.

Analyst Upgrades and Downgrades

BN has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank upped their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday. Royal Bank of Canada reduced their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research note on Friday. Finally, TD Securities upped their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield 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.