Ritholtz Wealth Management Buys 3,684 Shares of Brookfield Co. (NYSE:BN)

Ritholtz Wealth Management grew its stake in Brookfield Co. (NYSE:BN) by 9.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 41,532 shares of the company’s stock after purchasing an additional 3,684 shares during the period. Ritholtz Wealth Management’s holdings in Brookfield were worth $2,386,000 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. The Manufacturers Life Insurance Company lifted its position in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after buying an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after acquiring an additional 196,790 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after purchasing an additional 1,301,072 shares during the period. Geode Capital Management LLC grew its holdings in Brookfield by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after purchasing an additional 591,757 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Brookfield by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after purchasing an additional 351,231 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 1.0 %

BN opened at $58.16 on Friday. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.44. The company has a market capitalization of $87.73 billion, a P/E ratio of 123.75 and a beta of 1.56. The stock’s fifty day moving average is $58.13 and its two-hundred day moving average is $52.50. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. Brookfield’s payout ratio is currently 68.09%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BN. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank upped their price objective 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 equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

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.