Geode Capital Management LLC Has $320.67 Million Holdings in Brookfield Co. (NYSE:BN)

Geode Capital Management LLC raised its holdings in Brookfield Co. (NYSE:BN - Free Report) by 10.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,029,880 shares of the company's stock after buying an additional 591,757 shares during the period. Geode Capital Management LLC owned about 0.37% of Brookfield worth $320,670,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BN. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company's stock worth $623,783,000 after acquiring an additional 2,818,716 shares during the last quarter. Wulff Hansen & CO. boosted its position in Brookfield by 4,054.0% during the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company's stock worth $64,076,000 after purchasing an additional 1,505,372 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Brookfield by 4,149.3% in the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company's stock valued at $41,263,000 after purchasing an additional 758,076 shares during the last quarter. Bamco Inc. NY raised its position in shares of Brookfield by 62.6% in the third quarter. Bamco Inc. NY now owns 1,949,472 shares of the company's stock valued at $103,614,000 after purchasing an additional 750,726 shares during the period. Finally, Glazer Capital LLC acquired a new stake in shares of Brookfield during the 2nd quarter worth about $30,740,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BN has been the subject of several research analyst reports. Scotiabank lifted their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a "sector outperform" rating in a report on Friday, November 15th. BMO Capital Markets restated an "outperform" rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Brookfield has an average rating of "Moderate Buy" and an average price target of $55.31.

Brookfield Stock Performance

Brookfield stock traded down $0.57 during midday trading on Friday, hitting $58.68. The company's stock had a trading volume of 2,037,045 shares, compared to its average volume of 2,729,335. 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 company has a market cap of $96.63 billion, a price-to-earnings ratio of 124.85 and a beta of 1.55. Brookfield Co. has a 1-year low of $37.77 and a 1-year high of $62.44. The company has a 50-day moving average price of $56.74 and a two-hundred day moving average price of $49.87.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. Brookfield's payout ratio is 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.