Royal London Asset Management Ltd. Sells 1,481 Shares of Brookfield Co. (NYSE:BN)

Royal London Asset Management Ltd. reduced its holdings in shares of Brookfield Co. (NYSE:BN) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 711,051 shares of the company’s stock after selling 1,481 shares during the period. Royal London Asset Management Ltd.’s holdings in Brookfield were worth $37,792,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BN. Blue Trust Inc. lifted its position in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC purchased a new stake in Brookfield in the second quarter worth $31,000. Family Firm Inc. bought a new position in Brookfield in the second quarter worth $36,000. First Personal Financial Services purchased a new position in Brookfield during the third quarter valued at $42,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Brookfield during the 3rd quarter valued at $42,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on BN shares. TD Securities increased their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Scotiabank lifted their target price on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Performance

BN opened at $60.03 on Friday. The company has a 50 day simple moving average of $55.85 and a two-hundred day simple moving average of $49.14. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The firm has a market cap of $98.84 billion, a P/E ratio of 127.71 and a beta of 1.55. Brookfield Co. has a 1-year low of $35.47 and a 1-year high of $62.44.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. Brookfield’s payout ratio is presently 68.09%.

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.