The Manufacturers Life Insurance Company Acquires 2,818,716 Shares of Brookfield Co. (NYSE:BN)

The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Co. (NYSE:BN - Free Report) by 31.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,736,712 shares of the company's stock after acquiring an additional 2,818,716 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.71% of Brookfield worth $623,783,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company's stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC acquired a new position in Brookfield in the second quarter valued at approximately $31,000. Family Firm Inc. bought a new position in Brookfield in the second quarter valued at approximately $36,000. First Personal Financial Services acquired a new stake in Brookfield during the 3rd quarter worth $42,000. Finally, Nisa Investment Advisors LLC raised its position in shares of 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 acquiring an additional 450 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Stock Up 0.6 %

Shares of BN stock traded up $0.36 during trading hours on Tuesday, hitting $60.06. 2,054,340 shares of the company were exchanged, compared to its average volume of 2,767,537. Brookfield Co. has a 52 week low of $33.72 and a 52 week high of $60.23. 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 business has a 50 day moving average of $54.55 and a two-hundred day moving average of $48.35. The company has a market capitalization of $98.90 billion, a PE ratio of 127.79 and a beta of 1.53.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield's dividend payout ratio is 68.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BN shares. JPMorgan Chase & Co. upped their price objective on Brookfield from $49.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a research note on Friday, August 9th. BMO Capital Markets reissued an "outperform" rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Finally, TD Securities boosted their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a "buy" rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Brookfield has a consensus rating of "Moderate Buy" and an average price target 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.