Brookfield Co. (NYSE:BN) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Brookfield Co. (NYSE:BN) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,036 shares of the company’s stock after selling 819 shares during the period. Assenagon Asset Management S.A.’s holdings in Brookfield were worth $2,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Brookfield by 31.6% in the 3rd 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 in the last quarter. Toronto Dominion Bank raised its holdings in Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after acquiring an additional 1,301,072 shares in the last quarter. Sequoia Financial Advisors LLC boosted 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 valued at $41,263,000 after acquiring an additional 758,076 shares during the last quarter. Bamco Inc. NY grew its holdings in Brookfield by 62.6% during the 3rd quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock worth $103,614,000 after acquiring an additional 750,726 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Brookfield in the 3rd quarter worth about $38,935,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BN. Scotiabank lifted their price target on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. BMO Capital Markets reiterated 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Trading Down 1.5 %

NYSE:BN opened at $58.96 on Thursday. Brookfield Co. has a 12-month low of $38.18 and a 12-month high of $62.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The business has a 50 day simple moving average of $58.18 and a 200 day simple moving average of $52.91. The firm has a market capitalization of $88.94 billion, a P/E ratio of 125.45 and a beta of 1.56.

Brookfield Announces Dividend

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 annualized dividend and a dividend yield of 0.54%. Brookfield’s dividend payout ratio is currently 68.09%.

About Brookfield

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.