Anchor Investment Management LLC Reduces Position in Brookfield Co. (NYSE:BN)

Anchor Investment Management LLC trimmed its holdings in Brookfield Co. (NYSE:BN) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,169 shares of the company’s stock after selling 300 shares during the quarter. Anchor Investment Management LLC’s holdings in Brookfield were worth $487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BN. Nicholas Hoffman & Company LLC. grew its position in Brookfield by 3.9% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after acquiring an additional 257 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in Brookfield by 2.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after buying an additional 292 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after buying an additional 296 shares in the last quarter. Finally, Caprock Group LLC boosted its position in Brookfield by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock valued at $655,000 after buying an additional 300 shares during the period. 61.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank lifted their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Price Performance

NYSE BN opened at $58.68 on Friday. The company has a market cap of $96.63 billion, a PE ratio of 124.85 and a beta of 1.55. The firm’s 50 day moving average price is $56.74 and its 200-day moving average price is $49.83. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. Brookfield Co. has a 52-week low of $37.77 and a 52-week high of $62.44.

Brookfield Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.55%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

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.