Apollon Wealth Management LLC Has $896,000 Stake in Brookfield Co. (NYSE:BN)

Apollon Wealth Management LLC lifted its position in Brookfield Co. (NYSE:BN) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,598 shares of the company’s stock after purchasing an additional 338 shares during the quarter. Apollon Wealth Management LLC’s holdings in Brookfield were worth $896,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company grew 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 valued at $623,783,000 after acquiring an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. grew its position in Brookfield by 1.7% in the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after acquiring an additional 196,790 shares during the period. Toronto Dominion Bank grew its position in Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after acquiring an additional 1,301,072 shares during the period. Geode Capital Management LLC grew its position in Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after acquiring an additional 351,231 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Down 1.2 %

Shares of Brookfield stock opened at $58.67 on Wednesday. The business’s 50 day simple moving average is $58.46 and its 200 day simple moving average is $54.36. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The firm has a market cap of $96.57 billion, a PE ratio of 124.84 and a beta of 1.57. 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 Dividend Announcement

The business also recently declared 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 was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. Brookfield’s dividend payout ratio is 68.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BN. Scotiabank upped their price target on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. CIBC upped their price target on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Morgan Stanley initiated coverage on Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, 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 report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.