Verition Fund Management LLC Purchases 32,564 Shares of Brookfield Co. (NYSE:BN)

Verition Fund Management LLC lifted its stake in shares of Brookfield Co. (NYSE:BN) by 216.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 47,617 shares of the company’s stock after acquiring an additional 32,564 shares during the period. Verition Fund Management LLC’s holdings in Brookfield were worth $2,531,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after acquiring an additional 257 shares during the last quarter. Blue Trust Inc. raised its position in 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. First Trust Direct Indexing L.P. raised its position 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 purchasing an additional 292 shares during the period. Rosenberg Matthew Hamilton raised its position in Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares during the period. Finally, Caprock Group LLC raised its position in Brookfield by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after purchasing an additional 300 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of NYSE BN opened at $60.71 on Thursday. Brookfield Co. has a 1 year low of $35.44 and a 1 year high of $62.44. 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 company’s 50-day moving average is $55.68 and its 200 day moving average is $49.06. The stock has a market capitalization of $99.97 billion, a P/E ratio of 129.17 and a beta of 1.55.

Brookfield Announces Dividend

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

Analysts Set New Price Targets

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