Brookfield Co. (NYSE:BN) Position Trimmed by Citigroup Inc.

Citigroup Inc. trimmed its stake in Brookfield Co. (NYSE:BN) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,813 shares of the company’s stock after selling 22,309 shares during the quarter. Citigroup Inc.’s holdings in Brookfield were worth $24,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BN. Price T Rowe Associates Inc. MD boosted its position in Brookfield by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 109,552 shares of the company’s stock valued at $4,587,000 after purchasing an additional 4,428 shares during the last quarter. Ancora Advisors LLC lifted its holdings in shares of Brookfield by 2.8% during the 1st quarter. Ancora Advisors LLC now owns 45,766 shares of the company’s stock valued at $1,916,000 after buying an additional 1,250 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Brookfield by 3.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,009 shares of the company’s stock valued at $838,000 after buying an additional 715 shares in the last quarter. Jane Street Group LLC increased its holdings in Brookfield by 1.9% in the first quarter. Jane Street Group LLC now owns 222,916 shares of the company’s stock worth $9,333,000 after buying an additional 4,103 shares during the last quarter. Finally, Walleye Trading LLC bought a new position in Brookfield during the first quarter valued at approximately $367,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Up 0.6 %

Shares of BN opened at $60.06 on Wednesday. Brookfield Co. has a 52 week low of $33.72 and a 52 week high of $60.23. The firm has a market capitalization of $98.90 billion, a P/E ratio of 127.79 and a beta of 1.53. The company has a 50-day simple moving average of $54.55 and a 200-day simple moving average of $48.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. Brookfield’s dividend payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BN. 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 note on Friday, November 15th. Scotiabank raised their price objective on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. upped their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. 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. Finally, TD Securities boosted their target price 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield 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.