Brookfield Co. (NYSE:BN) Shares Sold by Private Trust Co. NA

Private Trust Co. NA reduced its stake in Brookfield Co. (NYSE:BN) by 62.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 889 shares of the company’s stock after selling 1,500 shares during the period. Private Trust Co. NA’s holdings in Brookfield were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BN. PNC Financial Services Group Inc. grew its stake in shares of Brookfield by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after buying an additional 9,915 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after acquiring an additional 248,506 shares during the period. Charles Schwab Investment Management Inc. grew its position in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after acquiring an additional 351,231 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Brookfield by 324.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after purchasing an additional 80,762 shares during the period. Finally, Callan Family Office LLC acquired a new position in shares of Brookfield during the second quarter worth $446,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

Shares of BN opened at $61.39 on Friday. Brookfield Co. has a 52 week low of $34.97 and a 52 week high of $61.77. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The firm has a market cap of $101.09 billion, a price-to-earnings ratio of 130.62 and a beta of 1.53. The stock has a 50 day moving average of $55.34 and a 200-day moving average of $48.76.

Brookfield Dividend Announcement

The firm 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 dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.52%. Brookfield’s payout ratio is 68.09%.

Analyst Ratings Changes

BN has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada lowered their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Scotiabank upped their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target 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.