BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Position in Brookfield Co. (NYSE:BN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 131.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 463,125 shares of the company's stock after purchasing an additional 263,375 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Brookfield were worth $24,594,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Brookfield in the 2nd quarter valued at about $128,321,000. The Manufacturers Life Insurance Company boosted its stake 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 acquiring an additional 2,818,716 shares in the last quarter. Wulff Hansen & CO. boosted its stake in Brookfield by 4,054.0% in the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company's stock valued at $64,076,000 after acquiring an additional 1,505,372 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Brookfield by 4,149.3% in the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company's stock worth $41,263,000 after purchasing an additional 758,076 shares during the last quarter. Finally, Glazer Capital LLC acquired a new position in shares of Brookfield during the second quarter worth $30,740,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

Shares of BN stock traded up $0.02 during trading hours on Friday, hitting $61.39. The company's stock had a trading volume of 1,272,166 shares, compared to its average volume of 1,835,324. 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 company has a 50 day moving average of $55.34 and a 200 day moving average of $48.79. Brookfield Co. has a 12-month low of $34.97 and a 12-month high of $61.77. The stock has a market cap of $101.09 billion, a PE ratio of 130.62 and a beta of 1.53.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given 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 currently 68.09%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD Securities boosted their target price on Brookfield from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th. Scotiabank increased their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a "sector outperform" rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a "market perform" rating in a research report on Friday, August 9th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two 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, Brookfield presently has an average rating of "Moderate Buy" and an average target price of $55.31.

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.