LGT Capital Partners LTD. Sells 45,000 Shares of Brookfield Co. (NYSE:BN)

LGT Capital Partners LTD. lowered its stake in Brookfield Co. (NYSE:BN) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 792,000 shares of the company’s stock after selling 45,000 shares during the period. Brookfield makes up 1.5% of LGT Capital Partners LTD.’s holdings, making the stock its 24th biggest holding. LGT Capital Partners LTD.’s holdings in Brookfield were worth $42,109,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of BN. Capital World Investors lifted its stake in Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Brookfield by 1.3% during the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after buying an additional 299,029 shares during the last quarter. Cooke & Bieler LP boosted its stake in Brookfield by 5.0% in the second quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after buying an additional 269,813 shares in the last quarter. Bessemer Group Inc. grew its position in Brookfield by 3.7% in the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock valued at $134,629,000 after acquiring an additional 113,241 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Brookfield during the second quarter worth about $128,321,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Down 1.2 %

NYSE BN opened at $56.11 on Tuesday. Brookfield Co. has a 12 month low of $33.61 and a 12 month high of $60.20. 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 capitalization of $92.40 billion, a PE ratio of 119.39 and a beta of 1.53. The business’s 50-day moving average price is $53.65 and its two-hundred day moving average price is $47.86.

Brookfield Dividend Announcement

The company also recently announced 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 0.57%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio is presently 68.09%.

Analysts Set New Price Targets

BN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday. TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada cut 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average target price of $55.31.

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.