Corsair Capital Management L.P. purchased a new position in Brookfield Co. (NYSE:BN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the company's stock, valued at approximately $532,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its stake in Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company's stock valued at $623,783,000 after purchasing an additional 2,818,716 shares in the last quarter. Cooke & Bieler LP raised its holdings in shares of Brookfield by 5.0% during the second quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company's stock worth $236,727,000 after acquiring an additional 269,813 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company's stock worth $189,507,000 after acquiring an additional 351,231 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Brookfield during the second quarter worth $128,321,000. Finally, Cardinal Capital Management Inc. raised its holdings in shares of Brookfield by 1.4% during the second quarter. Cardinal Capital Management Inc. now owns 2,352,094 shares of the company's stock worth $97,766,000 after acquiring an additional 31,730 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.
Brookfield Price Performance
NYSE:BN traded up $1.29 during mid-day trading on Wednesday, hitting $61.37. 2,911,928 shares of the stock traded hands, compared to its average volume of 2,768,172. The business's 50-day moving average price is $54.74 and its 200 day moving average price is $48.46. The company has a market cap of $101.06 billion, a PE ratio of 130.51 and a beta of 1.53. Brookfield Co. has a 12-month low of $33.72 and a 12-month high of $61.63. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.
Brookfield Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. Brookfield's dividend payout ratio (DPR) is currently 68.09%.
Analysts Set New Price Targets
Several equities analysts have weighed in on BN shares. JPMorgan Chase & Co. raised their target price on Brookfield from $49.00 to $52.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. TD Securities raised their price target on Brookfield from $62.00 to $63.00 and gave the company a "buy" rating in a research report on Monday, August 12th. Scotiabank raised their price target on Brookfield from $65.00 to $69.00 and gave the company a "sector outperform" rating in a research report on Friday, November 15th. BMO Capital Markets reissued an "outperform" rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their target price on 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.31.
Check Out Our Latest Stock Analysis on Brookfield
About Brookfield
(
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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