Toronto Dominion Bank Buys 1,301,072 Shares of Brookfield Co. (NYSE:BN)

Toronto Dominion Bank increased its holdings in Brookfield Co. (NYSE:BN - Free Report) by 23.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,851,397 shares of the company's stock after acquiring an additional 1,301,072 shares during the quarter. Brookfield comprises about 0.6% of Toronto Dominion Bank's investment portfolio, making the stock its 26th biggest holding. Toronto Dominion Bank owned about 0.42% of Brookfield worth $364,152,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Blue Trust Inc. increased its stake in 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 purchasing an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new stake in Brookfield during the 2nd quarter valued at about $31,000. First Personal Financial Services bought a new stake in Brookfield during the 3rd quarter valued at about $42,000. FSA Wealth Management LLC bought a new stake in Brookfield during the 3rd quarter valued at about $42,000. Finally, Prestige Wealth Management Group LLC increased its stake in Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company's stock valued at $46,000 after purchasing an additional 500 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Scotiabank raised their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a "sector outperform" rating in a report on Friday, November 15th. BMO Capital Markets reaffirmed an "outperform" rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two equities research 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.31.

Brookfield Stock Performance

NYSE BN traded up $0.98 on Wednesday, reaching $60.13. 803,425 shares of the stock were exchanged, compared to its average volume of 2,732,012. Brookfield Co. has a one year low of $35.72 and a one year high of $62.44. The firm has a market capitalization of $99.02 billion, a PE ratio of 125.87 and a beta of 1.55. The company's 50-day simple moving average is $56.35 and its two-hundred day simple moving average is $49.59. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield's payout ratio is 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.