Brookfield Co. (NYSE:BN) Shares Sold by Synovus Financial Corp

Synovus Financial Corp cut its stake in Brookfield Co. (NYSE:BN - Free Report) by 9.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,391 shares of the company's stock after selling 9,868 shares during the period. Synovus Financial Corp's holdings in Brookfield were worth $4,857,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company's stock worth $4,390,000 after buying an additional 80,762 shares in the last quarter. Blue Trust Inc. boosted its position in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company's stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Brookfield by 63.5% in the second 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. First Pacific Financial raised its holdings in Brookfield by 4.8% in the second quarter. First Pacific Financial now owns 16,827 shares of the company's stock worth $699,000 after purchasing an additional 768 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Brookfield by 238.1% during the second quarter. First Horizon Advisors Inc. now owns 5,494 shares of the company's stock valued at $228,000 after buying an additional 3,869 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 15th. BMO Capital Markets reaffirmed an "outperform" rating and set a $62.00 price target (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 issued a buy rating to the company's stock. According to data from MarketBeat, Brookfield presently has an average rating of "Moderate Buy" and a consensus target price of $55.31.

Brookfield Stock Performance

Brookfield stock traded down $0.57 during mid-day trading on Friday, reaching $58.68. 2,037,045 shares of the company traded hands, compared to its average volume of 2,729,335. Brookfield Co. has a fifty-two week low of $37.77 and a fifty-two week high of $62.44. The firm's fifty day moving average is $56.74 and its two-hundred day moving average is $49.83. 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 capitalization of $96.63 billion, a price-to-earnings ratio of 124.85 and a beta of 1.55.

Brookfield Dividend Announcement

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 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 0.55%. 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.