Intact Investment Management Inc. Boosts Holdings in Brookfield Co. (NYSE:BN)

Intact Investment Management Inc. grew its position in shares of Brookfield Co. (NYSE:BN - Free Report) by 101.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 642,550 shares of the company's stock after buying an additional 323,360 shares during the quarter. Brookfield accounts for 1.1% of Intact Investment Management Inc.'s portfolio, making the stock its 24th largest position. Intact Investment Management Inc.'s holdings in Brookfield were worth $34,129,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted 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 valued at $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC purchased a new position in Brookfield in the second quarter worth about $31,000. Family Firm Inc. bought a new stake in shares of Brookfield during the 2nd quarter valued at about $36,000. Nisa Investment Advisors LLC increased its position in shares of Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Finally, Asset Dedication LLC bought a new position in shares of Brookfield in the 2nd quarter worth approximately $56,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BN has been the subject of a number of analyst reports. Scotiabank upped their price target on Brookfield from $51.25 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. BMO Capital Markets raised their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 11th. Royal Bank of Canada dropped their price target on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and an average price target of $53.31.

Brookfield Trading Up 1.4 %

BN traded up $0.72 during trading hours on Monday, reaching $53.86. 1,884,398 shares of the company's stock traded hands, compared to its average volume of 2,831,151. The firm has a market capitalization of $88.67 billion, a PE ratio of 92.86 and a beta of 1.53. Brookfield Co. has a 52-week low of $31.43 and a 52-week high of $56.83. The firm has a 50-day moving average price of $51.82 and a 200 day moving average price of $46.57. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.57. The firm had revenue of $23.05 billion during the quarter, compared to analysts' expectations of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, sell-side analysts predict that Brookfield Co. will post 3.81 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.59%. The ex-dividend date was Thursday, September 12th. Brookfield's dividend payout ratio is presently 55.17%.

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.