Horizon Kinetics Asset Management LLC Sells 94,159 Shares of Brookfield Co. (NYSE:BN)

Horizon Kinetics Asset Management LLC reduced its position in Brookfield Co. (NYSE:BN - Free Report) by 8.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,056,706 shares of the company's stock after selling 94,159 shares during the period. Brookfield accounts for approximately 0.8% of Horizon Kinetics Asset Management LLC's investment portfolio, making the stock its 14th largest holding. Horizon Kinetics Asset Management LLC owned approximately 0.06% of Brookfield worth $56,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake 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 acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new stake in Brookfield in the 2nd quarter valued at approximately $31,000. First Personal Financial Services acquired a new position in Brookfield during the 3rd quarter worth approximately $42,000. Family Firm Inc. acquired a new position in Brookfield during the second quarter worth $36,000. Finally, Nisa Investment Advisors LLC boosted its stake 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 worth $48,000 after buying an additional 450 shares during the last quarter. Institutional investors own 61.60% of the company's stock.

Brookfield Stock Performance

NYSE:BN traded up $1.43 during mid-day trading on Monday, hitting $59.71. 3,580,844 shares of the stock were exchanged, compared to its average volume of 2,770,666. The firm's 50-day simple moving average is $54.55 and its 200 day simple moving average is $48.35. The stock has a market capitalization of $98.32 billion, a price-to-earnings ratio of 127.03 and a beta of 1.53. Brookfield Co. has a fifty-two week low of $33.72 and a fifty-two week high of $60.20. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield's dividend payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BN shares. Keefe, Bruyette & Woods boosted their price target on Brookfield from $44.00 to $46.00 and gave the stock a "market perform" rating in a research report on Friday, August 9th. Royal Bank of Canada dropped their price target on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. Scotiabank increased their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a "sector outperform" rating in a research note on Friday, November 15th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. 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 has an average rating of "Moderate Buy" and an average target price of $55.31.

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.