Brookfield Co. (NYSE:BN) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 1.5% during the third quarter, Holdings Channel reports. The firm owned 118,534 shares of the company’s stock after selling 1,780 shares during the quarter. Townsquare Capital LLC’s holdings in Brookfield were worth $6,300,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Brookfield by 5.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after purchasing an additional 9,915 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Brookfield by 1,022.6% during the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after acquiring an additional 248,506 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Brookfield by 324.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after acquiring an additional 80,762 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

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

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio is presently 68.09%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Scotiabank upped their price objective 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. Finally, Keefe, Bruyette & Woods raised 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.31.

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.