Atlantic Union Bankshares Corp Reduces Holdings in Brookfield Co. (NYSE:BN)

Atlantic Union Bankshares Corp lessened its holdings in Brookfield Co. (NYSE:BN) by 3.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 87,217 shares of the company’s stock after selling 2,923 shares during the period. Atlantic Union Bankshares Corp’s holdings in Brookfield were worth $4,636,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of 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 acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Brookfield in the 2nd quarter worth approximately $31,000. First Personal Financial Services acquired a new stake in Brookfield in the third quarter valued at approximately $42,000. Family Firm Inc. purchased a new position in Brookfield during the 2nd quarter worth $36,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Brookfield by 63.5% during the second 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 hedge funds and other institutional investors.

Brookfield Trading Up 2.1 %

Shares of NYSE:BN opened at $61.37 on Friday. 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 Co. has a 12-month low of $33.72 and a 12-month high of $61.63. The business has a 50 day moving average of $54.97 and a two-hundred day moving average of $48.55. The company has a market capitalization of $101.06 billion, a PE ratio of 130.58 and a beta of 1.53.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Analysts Set New Price Targets

A number of research firms have issued reports on BN. 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 report on Friday, November 15th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Keefe, Bruyette & Woods raised their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada dropped their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.31.

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.