PEAK6 Investments LLC Boosts Position in Brookfield Co. (NYSE:BN)

PEAK6 Investments LLC grew its position in Brookfield Co. (NYSE:BN) by 181.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,971 shares of the company’s stock after purchasing an additional 9,001 shares during the period. PEAK6 Investments LLC’s holdings in Brookfield were worth $743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in Brookfield by 5.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after buying an additional 9,915 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 in the last quarter. Partners Group Holding AG boosted its stake in shares of Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock valued at $21,754,000 after acquiring an additional 142,603 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Brookfield by 324.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after purchasing an additional 80,762 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BN. TD Securities raised 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. 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. Royal Bank of Canada cut their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Scotiabank increased their price target on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Price Performance

Shares of NYSE BN opened at $61.03 on Wednesday. The business has a 50 day simple moving average of $55.52 and a 200-day simple moving average of $48.94. Brookfield Co. has a twelve month low of $35.44 and a twelve month high of $62.44. The company has a market capitalization of $100.50 billion, a price-to-earnings ratio of 129.85 and a beta of 1.55. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.52%. Brookfield’s dividend payout ratio is presently 68.09%.

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.