Ninety One North America Inc. Invests $9.09 Million in Brookfield Co. (NYSE:BN)

Ninety One North America Inc. bought a new position in shares of Brookfield Co. (NYSE:BN) during the 4th quarter, Holdings Channel.com reports. The firm bought 158,195 shares of the company’s stock, valued at approximately $9,088,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Personal Financial Services acquired a new stake in shares of Brookfield in the third quarter valued at about $42,000. FSA Wealth Management LLC acquired a new stake in shares of Brookfield in the third quarter valued at about $42,000. Prestige Wealth Management Group LLC lifted its stake in shares of Brookfield by 137.0% in the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after buying an additional 500 shares during the period. Continuum Advisory LLC bought a new position in Brookfield during the third quarter worth about $55,000. Finally, Pinnacle Bancorp Inc. lifted its stake in Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 221 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BN. Scotiabank raised their price target on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday. Morgan Stanley initiated coverage on shares of Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. CIBC raised their price target on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously 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 given a buy rating to the company’s stock. According to data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.28.

Brookfield Trading Up 0.8 %

Shares of NYSE BN opened at $59.80 on Tuesday. The company’s fifty day moving average is $58.67 and its 200-day moving average is $53.82. The stock has a market cap of $98.42 billion, a price-to-earnings ratio of 127.41 and a beta of 1.57. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. Brookfield’s dividend 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.