CIBC Asset Management Inc Trims Stake in Brookfield Co. (NYSE:BN)

CIBC Asset Management Inc trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,354,705 shares of the company’s stock after selling 789,614 shares during the period. Brookfield accounts for 2.3% of CIBC Asset Management Inc’s portfolio, making the stock its 9th biggest position. CIBC Asset Management Inc’s holdings in Brookfield were worth $710,716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the period. Kings Path Partners LLC bought a new position in shares of Brookfield during the second quarter worth about $31,000. First Personal Financial Services acquired a new stake in shares of Brookfield in the 3rd quarter worth about $42,000. Family Firm Inc. bought a new stake in Brookfield in the 2nd quarter valued at about $36,000. Finally, Nisa Investment Advisors LLC boosted its stake in Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Up 0.4 %

Shares of BN stock opened at $57.82 on Friday. The firm’s fifty day simple moving average is $53.26 and its 200 day simple moving average is $47.54. The firm has a market capitalization of $95.21 billion, a P/E ratio of 99.69 and a beta of 1.53. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 1 year low of $33.61 and a 1 year high of $60.20.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BN. TD Securities lifted their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. BMO Capital Markets upped their target price on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank raised their price objective on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.31.

Brookfield Company 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.