Fifth Third Wealth Advisors LLC Invests $232,000 in Brookfield Co. (NYSE:BN)

Fifth Third Wealth Advisors LLC purchased a new position in shares of Brookfield Co. (NYSE:BN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,037 shares of the company’s stock, valued at approximately $232,000.

A number of other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Brookfield by 4,149.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock worth $41,263,000 after acquiring an additional 758,076 shares in the last quarter. Bamco Inc. NY lifted its position in Brookfield by 62.6% in the third quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock valued at $103,614,000 after acquiring an additional 750,726 shares during the last quarter. Finally, Glazer Capital LLC acquired a new position in Brookfield in the second quarter valued at $30,740,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank boosted 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Up 1.0 %

BN opened at $58.16 on Friday. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.44. The business has a 50 day moving average price of $58.13 and a two-hundred day moving average price of $52.57. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The company has a market cap of $87.73 billion, a PE ratio of 123.75 and a beta of 1.56.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio is presently 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.