Algert Global LLC Makes New Investment in Brookfield Co. (NYSE:BN)

Algert Global LLC acquired a new stake in Brookfield Co. (NYSE:BN - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 29,804 shares of the company's stock, valued at approximately $1,585,000.

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

Brookfield Stock Up 2.1 %

BN stock traded up $1.29 during mid-day trading on Thursday, hitting $61.37. 2,913,087 shares of the company were exchanged, compared to its average volume of 2,768,172. The firm has a fifty day simple moving average of $54.74 and a 200 day simple moving average of $48.46. The company has a market capitalization of $101.06 billion, a PE ratio of 130.58 and a beta of 1.53. 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.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.08 dividend. 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 currently 68.09%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price objective 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 increased 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. Scotiabank boosted their price target on Brookfield from $65.00 to $69.00 and gave the company a "sector outperform" rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price objective on Brookfield from $49.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.