Thrivent Financial for Lutherans Makes New $223,000 Investment in Brookfield Co. (NYSE:BN)

Thrivent Financial for Lutherans purchased a new stake in Brookfield Co. (NYSE:BN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,197 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds also recently made changes to their positions in BN. Sather Financial Group Inc raised its stake in Brookfield by 0.3% during the third quarter. Sather Financial Group Inc now owns 1,543,740 shares of the company’s stock worth $82,050,000 after buying an additional 4,639 shares during the last quarter. Coastline Trust Co acquired a new stake in Brookfield during the 3rd quarter worth about $74,000. Huntington National Bank raised its position in shares of Brookfield by 8.8% in the 3rd quarter. Huntington National Bank now owns 5,445 shares of the company’s stock worth $289,000 after acquiring an additional 439 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of Brookfield in the 3rd quarter valued at about $435,000. Finally, Kovack Advisors Inc. bought a new stake in shares of Brookfield during the 3rd quarter valued at about $220,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Down 0.3 %

BN opened at $59.82 on Friday. The company’s 50-day moving average price is $56.11 and its two-hundred day moving average price is $49.32. 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 Co. has a twelve month low of $35.51 and a twelve month high of $62.44. The stock has a market cap of $98.51 billion, a price-to-earnings ratio of 127.28 and a beta of 1.55.

Brookfield Announces Dividend

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 issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. TD Securities boosted their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Scotiabank raised their price target 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. Keefe, Bruyette & Woods upped their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $55.31.

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.