Cerity Partners LLC Acquires 16,425 Shares of Brookfield Co. (NYSE:BN)

Cerity Partners LLC increased its holdings in Brookfield Co. (NYSE:BN) by 20.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,719 shares of the company’s stock after purchasing an additional 16,425 shares during the period. Cerity Partners LLC’s holdings in Brookfield were worth $5,194,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BN. SG Americas Securities LLC bought a new position in shares of Brookfield in the second quarter valued at approximately $128,321,000. Wulff Hansen & CO. grew its stake in Brookfield by 4,054.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after buying an additional 1,505,372 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Brookfield by 4,149.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock worth $41,263,000 after acquiring an additional 758,076 shares during the period. Glazer Capital LLC acquired a new position in Brookfield during the 2nd quarter worth $30,740,000. Finally, Wolverine Asset Management LLC boosted its holdings in Brookfield by 6,934.1% during the second quarter. Wolverine Asset Management LLC now owns 710,095 shares of the company’s stock valued at $29,497,000 after acquiring an additional 700,000 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BN. Scotiabank lifted their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Royal Bank of Canada lowered their price objective 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. 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 research note on Friday, August 9th. TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, 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, November 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Up 2.1 %

Shares of BN opened at $61.37 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $54.97 and a two-hundred day moving average price of $48.55. The stock has a market cap of $101.06 billion, a price-to-earnings ratio of 130.57 and a beta of 1.53. Brookfield Co. has a 12 month low of $33.72 and a 12 month high of $61.63.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend 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.