Verition Fund Management LLC Has $2.53 Million Stake in Brookfield Co. (NYSE:BN)

Verition Fund Management LLC raised its holdings in Brookfield Co. (NYSE:BN - Free Report) by 216.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,617 shares of the company's stock after acquiring an additional 32,564 shares during the quarter. Verition Fund Management LLC's holdings in Brookfield were worth $2,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Brookfield during the second quarter worth approximately $128,321,000. The Manufacturers Life Insurance Company boosted its stake 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 in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Brookfield by 4,054.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company's stock worth $64,076,000 after acquiring an additional 1,505,372 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Brookfield by 4,149.3% during the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company's stock worth $41,263,000 after purchasing an additional 758,076 shares during the period. Finally, Glazer Capital LLC purchased a new stake in shares of Brookfield during the second quarter valued at $30,740,000. Institutional investors and hedge funds own 61.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BN. TD Securities boosted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a "buy" rating in a report on Monday, August 12th. Royal Bank of Canada reduced 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 price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a "market perform" rating in a research report on Friday, August 9th. Scotiabank increased their target price on Brookfield from $65.00 to $69.00 and gave the company a "sector outperform" rating in a report on Friday, November 15th. Finally, BMO Capital Markets reiterated 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $55.31.

Brookfield Stock Down 0.9 %

NYSE BN traded down $0.54 on Thursday, reaching $60.16. The stock had a trading volume of 2,582,757 shares, compared to its average volume of 2,747,115. Brookfield Co. has a 1 year low of $35.47 and a 1 year high of $62.44. The business has a 50 day moving average price of $55.85 and a 200 day moving average price of $49.14. 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 company has a market capitalization of $99.07 billion, a price-to-earnings ratio of 129.17 and a beta of 1.55.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.53%. The ex-dividend date is Monday, December 16th. Brookfield's payout ratio is presently 68.09%.

Brookfield Company 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.