Franklin Resources Inc. Has $33.94 Million Holdings in Brookfield Co. (NYSE:BN)

Franklin Resources Inc. decreased its holdings in shares of Brookfield Co. (NYSE:BN) by 7.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 623,098 shares of the company’s stock after selling 46,982 shares during the period. Franklin Resources Inc.’s holdings in Brookfield were worth $33,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Blankinship & Foster LLC bought a new stake in Brookfield in the third quarter valued at about $32,389,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Brookfield in the 3rd quarter valued at about $784,000. Virtu Financial LLC acquired a new stake in shares of Brookfield in the 3rd quarter valued at approximately $211,000. Rehmann Capital Advisory Group bought a new position in Brookfield during the 3rd quarter worth approximately $241,000. Finally, Toronto Dominion Bank grew its holdings in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after purchasing an additional 1,301,072 shares during the period. 61.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BN. Scotiabank increased their target price 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 reiterated an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Performance

BN opened at $55.46 on Thursday. The company has a market capitalization of $91.35 billion, a price-to-earnings ratio of 118.00 and a beta of 1.55. The business’s 50-day moving average price is $57.05 and its two-hundred day moving average price is $50.19. Brookfield Co. has a 1 year low of $37.77 and a 1 year high of $62.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03.

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 $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, December 16th. Brookfield’s payout ratio is 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.