Apollon Wealth Management LLC Sells 690 Shares of Brookfield Co. (NYSE:BN)

Apollon Wealth Management LLC trimmed its position in Brookfield Co. (NYSE:BN) by 4.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,260 shares of the company’s stock after selling 690 shares during the period. Apollon Wealth Management LLC’s holdings in Brookfield were worth $811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in shares of Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after buying an additional 248,506 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after buying an additional 80,762 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of Brookfield in the second quarter worth about $446,000. Acadian Asset Management LLC raised its stake in Brookfield by 352.5% in the first quarter. Acadian Asset Management LLC now owns 196,670 shares of the company’s stock valued at $8,232,000 after purchasing an additional 153,205 shares in the last quarter. Finally, Leavell Investment Management Inc. raised its stake in Brookfield by 373.2% in the third quarter. Leavell Investment Management Inc. now owns 35,118 shares of the company’s stock valued at $1,867,000 after purchasing an additional 27,696 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Down 1.7 %

BN stock opened at $56.79 on Friday. The company has a market capitalization of $93.52 billion, a PE ratio of 120.83 and a beta of 1.53. Brookfield Co. has a one year low of $33.61 and a one year high of $60.20. The company’s 50 day moving average price is $53.47 and its two-hundred day moving average price is $47.65. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

Brookfield Announces Dividend

The company also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio is 68.09%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BN. TD Securities raised their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada lowered their target price 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. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. 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 note on Friday. Finally, Scotiabank raised 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

About Brookfield

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.