Empirical Asset Management LLC Makes New Investment in Brookfield Co. (NYSE:BN)

Empirical Asset Management LLC purchased a new stake in Brookfield Co. (NYSE:BN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 96,282 shares of the company's stock, valued at approximately $5,531,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in Brookfield by 31.6% in the third 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 in the last quarter. Toronto Dominion Bank grew its holdings in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company's stock valued at $364,152,000 after acquiring an additional 1,301,072 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Brookfield by 4,149.3% in the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company's stock valued at $41,263,000 after acquiring an additional 758,076 shares during the last quarter. Bamco Inc. NY raised its holdings in Brookfield by 62.6% during the third quarter. Bamco Inc. NY now owns 1,949,472 shares of the company's stock worth $103,614,000 after acquiring an additional 750,726 shares in the last quarter. Finally, Glazer Capital LLC acquired a new position in Brookfield during the second quarter valued at approximately $30,740,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on BN. Scotiabank boosted their price target on Brookfield from $65.00 to $69.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 15th. BMO Capital Markets reissued an "outperform" rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Brookfield currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.31.

Brookfield Price Performance

Brookfield stock traded up $0.58 during mid-day trading on Friday, reaching $58.16. 1,406,514 shares of the company were exchanged, compared to its average volume of 2,666,492. The firm has a market cap of $87.73 billion, a PE ratio of 123.75 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The company has a fifty day simple moving average of $58.11 and a 200-day simple moving average of $52.38. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.44.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.55%. Brookfield's dividend payout ratio is 68.09%.

Brookfield 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.