Independent Advisor Alliance Reduces Stake in Brookfield Co. (NYSE:BN)

Independent Advisor Alliance cut its stake in shares of Brookfield Co. (NYSE:BN) by 2.4% during the third quarter, HoldingsChannel reports. The firm owned 9,581 shares of the company’s stock after selling 239 shares during the quarter. Independent Advisor Alliance’s holdings in Brookfield were worth $509,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC purchased a new position in shares of Brookfield during the second quarter valued at approximately $31,000. First Personal Financial Services bought a new position in shares of Brookfield during the third quarter valued at approximately $42,000. Family Firm Inc. purchased a new stake in shares of Brookfield in the second quarter worth approximately $36,000. Finally, Nisa Investment Advisors LLC lifted its stake 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 worth $48,000 after acquiring an additional 450 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on BN shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank raised their price target 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. TD Securities lifted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods raised their target price 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. Finally, Royal Bank of Canada decreased their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Trading Up 2.1 %

NYSE:BN opened at $61.37 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The firm has a 50-day simple moving average of $54.74 and a 200-day simple moving average of $48.46. Brookfield Co. has a one year low of $33.72 and a one year high of $61.63. The firm has a market cap of $101.06 billion, a P/E ratio of 130.58 and a beta of 1.53.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. Brookfield’s dividend payout ratio is currently 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.