Brookfield Co. (NYSE:BN) is CIBC Asset Management Inc's 9th Largest Position

CIBC Asset Management Inc cut its position in Brookfield Co. (NYSE:BN - Free Report) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,354,705 shares of the company's stock after selling 789,614 shares during the period. Brookfield comprises 2.3% of CIBC Asset Management Inc's portfolio, making the stock its 9th largest holding. CIBC Asset Management Inc owned approximately 0.81% of Brookfield worth $710,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Brookfield by 62.8% in the second 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 bought a new stake in shares of Brookfield in the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new position in Brookfield in the second quarter valued at about $36,000. First Personal Financial Services acquired a new stake in shares of Brookfield in the 3rd quarter worth $42,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Brookfield by 63.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Brookfield from $49.00 to $52.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. TD Securities boosted their price objective on Brookfield from $62.00 to $63.00 and gave the company a "buy" rating in a report on Monday, August 12th. Scotiabank upped their target price on Brookfield from $65.00 to $69.00 and gave the stock a "sector outperform" rating in a research note on Friday. BMO Capital Markets reissued an "outperform" rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $55.31.

Brookfield Price Performance

Shares of NYSE BN traded down $1.05 during mid-day trading on Friday, reaching $56.75. The company's stock had a trading volume of 1,439,978 shares, compared to its average volume of 2,782,548. Brookfield Co. has a 1-year low of $33.61 and a 1-year high of $60.20. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The stock has a market capitalization of $93.45 billion, a P/E ratio of 97.95 and a beta of 1.53. The stock has a 50-day moving average of $53.26 and a two-hundred day moving average of $47.54.

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.