Connor Clark & Lunn Investment Management Ltd. lessened its position in Brookfield Co. (NYSE:BN - Free Report) by 15.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,838,483 shares of the company's stock after selling 1,042,615 shares during the period. Brookfield makes up 1.5% of Connor Clark & Lunn Investment Management Ltd.'s investment portfolio, making the stock its 16th largest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of Brookfield worth $310,050,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of BN. Blue Trust Inc. boosted its holdings in shares of Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company's stock worth $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC acquired a new position in shares of Brookfield in the second quarter valued at approximately $31,000. Family Firm Inc. bought a new position in shares of Brookfield during the 2nd quarter worth approximately $36,000. First Personal Financial Services bought a new stake in Brookfield during the 3rd quarter worth approximately $42,000. Finally, Nisa Investment Advisors LLC boosted its stake in Brookfield by 63.5% in the second 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.
Analyst Ratings Changes
Several equities analysts recently commented on BN shares. Royal Bank of Canada reduced their target price 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. JPMorgan Chase & Co. raised their price target on Brookfield from $49.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. TD Securities upped their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Monday, August 12th. BMO Capital Markets reaffirmed an "outperform" rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods upped their price objective 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.31.
Get Our Latest Analysis on Brookfield
Brookfield Trading Down 0.7 %
NYSE BN traded down $0.40 during trading hours on Wednesday, reaching $56.38. The company's stock had a trading volume of 1,745,351 shares, compared to its average volume of 2,772,836. Brookfield Co. has a 52 week low of $33.70 and a 52 week high of $60.20. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The firm has a fifty day simple moving average of $53.84 and a 200-day simple moving average of $47.96. The stock has a market cap of $92.84 billion, a P/E ratio of 120.81 and a beta of 1.53.
Brookfield Announces Dividend
The business also recently announced 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.57%. Brookfield's dividend payout ratio is currently 68.09%.
Brookfield Company Profile
(
Free Report)
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.
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