Janney Montgomery Scott LLC Decreases Stake in Brookfield Co. (NYSE:BN)

Janney Montgomery Scott LLC decreased its position in Brookfield Co. (NYSE:BN) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,447 shares of the company’s stock after selling 883 shares during the period. Janney Montgomery Scott LLC’s holdings in Brookfield were worth $3,053,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G Plc purchased a new stake in shares of Brookfield during the 1st quarter worth approximately $111,222,000. Cetera Investment Advisers increased its stake in shares of Brookfield by 1,022.6% during the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after purchasing an additional 248,506 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Brookfield by 324.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after buying an additional 80,762 shares in the last quarter. Callan Family Office LLC purchased a new position in Brookfield in the 2nd quarter valued at approximately $446,000. Finally, Acadian Asset Management LLC grew its stake in Brookfield by 352.5% in the 1st quarter. Acadian Asset Management LLC now owns 196,670 shares of the company’s stock valued at $8,232,000 after buying an additional 153,205 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 3.0 %

Shares of NYSE:BN opened at $58.78 on Tuesday. Brookfield Co. has a 52-week low of $31.51 and a 52-week high of $59.23. The firm has a fifty day moving average of $52.64 and a 200 day moving average of $47.28. The firm has a market capitalization of $96.77 billion, a PE ratio of 101.35 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

Analyst Ratings Changes

A number of research firms recently weighed in on BN. Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. TD Securities lifted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets lifted their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada reduced their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

Brookfield 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.