JPMorgan Chase & Co. Decreases Stake in Brookfield Co. (NYSE:BN)

JPMorgan Chase & Co. lessened its stake in shares of Brookfield Co. (NYSE:BN) by 25.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,905,380 shares of the company’s stock after selling 1,699,653 shares during the period. JPMorgan Chase & Co. owned approximately 0.33% of Brookfield worth $260,721,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BN. First Personal Financial Services purchased a new position in shares of Brookfield in the third quarter worth about $42,000. FSA Wealth Management LLC acquired a new stake in Brookfield during the 3rd quarter valued at approximately $42,000. Prestige Wealth Management Group LLC boosted its holdings in shares of Brookfield by 137.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the last quarter. Continuum Advisory LLC acquired a new stake in shares of Brookfield in the third quarter worth $55,000. Finally, Asset Dedication LLC purchased a new position in shares of Brookfield during the second quarter worth $56,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Up 0.3 %

Shares of BN opened at $57.35 on Tuesday. 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 $86.51 billion, a P/E ratio of 122.02 and a beta of 1.55. The stock’s 50 day moving average is $57.42 and its two-hundred day moving average is $50.97. Brookfield Co. has a 12 month low of $37.77 and a 12 month high of $62.44.

Brookfield Announces Dividend

The business 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio is presently 68.09%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Scotiabank raised their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently 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.