Brookfield Co. (NYSE:BN) Stake Boosted by Huntington National Bank

Huntington National Bank raised its holdings in shares of Brookfield Co. (NYSE:BN) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,445 shares of the company’s stock after purchasing an additional 439 shares during the period. Huntington National Bank’s holdings in Brookfield were worth $289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its position 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 last quarter. Kings Path Partners LLC bought a new position in shares of Brookfield during the second quarter valued at approximately $31,000. Family Firm Inc. acquired a new stake in shares of Brookfield during the 2nd quarter worth approximately $36,000. First Personal Financial Services bought a new stake in shares of Brookfield in the 3rd quarter worth approximately $42,000. Finally, Nisa Investment Advisors LLC boosted its position in 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 period. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on BN. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Scotiabank boosted their target price on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday. Royal Bank of Canada dropped their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, TD Securities boosted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Price Performance

Shares of NYSE:BN opened at $56.79 on Friday. The stock has a market cap of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield Co. has a 12 month low of $33.61 and a 12 month high of $60.20. The stock’s 50 day moving average price is $53.47 and its 200 day moving average price is $47.71.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. Brookfield’s dividend payout ratio (DPR) is 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.