Massachusetts Financial Services Co. MA Reduces Holdings in Brookfield Co. (NYSE:BN)

Massachusetts Financial Services Co. MA reduced its holdings in Brookfield Co. (NYSE:BN - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,687,618 shares of the company's stock after selling 240,910 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.16% of Brookfield worth $142,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BN. Nicholas Hoffman & Company LLC. boosted its position in shares of Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company's stock valued at $282,000 after acquiring an additional 257 shares during the last quarter. Blue Trust Inc. boosted its holdings in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company's stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Brookfield by 2.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company's stock valued at $551,000 after buying an additional 292 shares during the period. Rosenberg Matthew Hamilton increased its holdings in shares of Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company's stock worth $71,000 after buying an additional 296 shares during the last quarter. Finally, Caprock Group LLC raised its position in shares of Brookfield by 2.5% during the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company's stock valued at $655,000 after buying an additional 300 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Scotiabank increased their price objective on Brookfield from $65.00 to $69.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a research report on Friday, August 9th. Royal Bank of Canada decreased their price objective 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. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and an average target price of $55.31.

Brookfield Stock Up 1.3 %

NYSE:BN traded up $0.74 during midday trading on Friday, reaching $58.27. The company had a trading volume of 2,690,378 shares, compared to its average volume of 1,663,139. Brookfield Co. has a 12-month low of $33.72 and a 12-month high of $60.20. The firm has a market capitalization of $95.95 billion, a price-to-earnings ratio of 123.98 and a beta of 1.53. 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 stock's fifty day simple moving average is $54.36 and its 200-day simple moving average is $48.24.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, December 16th. Brookfield's dividend payout ratio (DPR) is presently 68.09%.

About Brookfield

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.