Freedom Investment Management Inc. Acquires Shares of 11,652 Brookfield Co. (NYSE:BN)

Freedom Investment Management Inc. acquired a new stake in Brookfield Co. (NYSE:BN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,652 shares of the company's stock, valued at approximately $619,000.

Several other hedge funds have also added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Brookfield in the second quarter valued at about $128,321,000. The Manufacturers Life Insurance Company boosted its holdings in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company's stock valued at $623,783,000 after acquiring an additional 2,818,716 shares during the last quarter. Wulff Hansen & CO. increased its position in Brookfield by 4,054.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company's stock valued at $64,076,000 after purchasing an additional 1,505,372 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Brookfield by 4,149.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company's stock worth $41,263,000 after purchasing an additional 758,076 shares during the last quarter. Finally, Glazer Capital LLC acquired a new position in shares of Brookfield in the 2nd quarter worth approximately $30,740,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BN. BMO Capital Markets reissued an "outperform" rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Keefe, Bruyette & Woods boosted their price objective on Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a research note on Friday, August 9th. Scotiabank raised 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, November 15th. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada lowered their price objective 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.31.

Brookfield Stock Up 0.0 %

Shares of BN traded up $0.02 during trading hours on Friday, reaching $61.39. The stock had a trading volume of 1,272,166 shares, compared to its average volume of 2,761,707. The firm has a 50-day simple moving average of $55.34 and a 200 day simple moving average of $48.76. Brookfield Co. has a 12 month low of $34.97 and a 12 month high of $61.77. 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 company has a market capitalization of $101.09 billion, a price-to-earnings ratio of 130.62 and a beta of 1.53.

Brookfield Announces Dividend

The firm also recently disclosed 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 0.52%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield's dividend payout ratio is currently 68.09%.

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.