PNC Financial Services Group Inc. Has $9.76 Million Stake in Brookfield Co. (NYSE:BN)

PNC Financial Services Group Inc. boosted its stake in shares of Brookfield Co. (NYSE:BN) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,698 shares of the company’s stock after acquiring an additional 9,915 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Brookfield were worth $9,764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis bought a new position in shares of Brookfield in the first quarter valued at about $275,000. Price T Rowe Associates Inc. MD lifted its position in shares of Brookfield by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 109,552 shares of the company’s stock worth $4,587,000 after purchasing an additional 4,428 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Brookfield by 6.7% during the first quarter. Bamco Inc. NY now owns 1,287,522 shares of the company’s stock valued at $53,909,000 after purchasing an additional 80,303 shares during the last quarter. Ancora Advisors LLC increased its holdings in shares of Brookfield by 2.8% in the first quarter. Ancora Advisors LLC now owns 45,766 shares of the company’s stock valued at $1,916,000 after purchasing an additional 1,250 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Brookfield by 3.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,009 shares of the company’s stock worth $838,000 after purchasing an additional 715 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

BN has been the subject of a number of recent research reports. TD Securities boosted their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods boosted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada reduced 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 set a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Price Performance

NYSE BN opened at $58.27 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. Brookfield Co. has a 52-week low of $33.72 and a 52-week high of $60.20. The business has a 50 day simple moving average of $54.36 and a 200 day simple moving average of $48.18. The stock has a market cap of $95.95 billion, a price-to-earnings ratio of 123.98 and a beta of 1.53.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 0.55%. Brookfield’s payout ratio is 68.09%.

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.