Kathleen S. Wright Associates Inc. Sells 1,600 Shares of Brookfield Co. (NYSE:BN)

Kathleen S. Wright Associates Inc. lessened its stake in shares of Brookfield Co. (NYSE:BN) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 82,154 shares of the company’s stock after selling 1,600 shares during the period. Brookfield accounts for about 1.9% of Kathleen S. Wright Associates Inc.’s investment portfolio, making the stock its 15th biggest holding. Kathleen S. Wright Associates Inc.’s holdings in Brookfield were worth $4,713,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in 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 acquiring an additional 2,818,716 shares during the last quarter. Toronto Dominion Bank raised its holdings in Brookfield by 23.4% during 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 period. Sequoia Financial Advisors LLC boosted its stake in Brookfield by 4,149.3% during the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock worth $41,263,000 after buying an additional 758,076 shares during the period. Bamco Inc. NY increased its position in Brookfield by 62.6% during 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, Zurich Insurance Group Ltd FI purchased a new stake in shares of Brookfield in the third quarter valued at $38,935,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

Shares of NYSE:BN opened at $59.32 on Tuesday. 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 capitalization of $97.63 billion, a price-to-earnings ratio of 126.22 and a beta of 1.57. The firm has a 50 day moving average of $58.67 and a 200 day moving average of $53.82. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.54%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent analyst reports. Morgan Stanley assumed coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. CIBC upped their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Finally, Scotiabank lifted their price target on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.28.

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.