Brookfield Co. (NYSE:BN) Position Decreased by Prospera Financial Services Inc

Prospera Financial Services Inc reduced its holdings in Brookfield Co. (NYSE:BN) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,129 shares of the company’s stock after selling 394 shares during the quarter. Prospera Financial Services Inc’s holdings in Brookfield were worth $273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BN. Verity & Verity LLC purchased a new position in Brookfield during the 3rd quarter worth approximately $242,000. Caprock Group LLC boosted its position in shares of Brookfield by 2.5% in the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after buying an additional 300 shares during the period. Pathstone Holdings LLC grew its holdings in shares of Brookfield by 2.0% during the third quarter. Pathstone Holdings LLC now owns 97,293 shares of the company’s stock valued at $5,171,000 after buying an additional 1,929 shares in the last quarter. Jackson Hill Advisors LLC raised its position in Brookfield by 8.9% during the third quarter. Jackson Hill Advisors LLC now owns 501,000 shares of the company’s stock valued at $26,628,000 after buying an additional 41,000 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in Brookfield in the 3rd quarter worth about $223,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Up 2.5 %

Shares of BN opened at $59.71 on Tuesday. The stock’s 50-day moving average price is $54.55 and its 200 day moving average price is $48.35. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12-month low of $33.72 and a 12-month high of $60.20. The firm has a market capitalization of $98.32 billion, a price-to-earnings ratio of 127.03 and a beta of 1.53.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 0.54%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BN. Scotiabank raised their price target on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price target 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. BMO Capital Markets reaffirmed 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. JPMorgan Chase & Co. lifted their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, TD Securities upped 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. Two equities 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.