Empirical Asset Management LLC Takes Position in Brookfield Co. (NYSE:BN)

Empirical Asset Management LLC bought a new position in shares of Brookfield Co. (NYSE:BN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 96,282 shares of the company’s stock, valued at approximately $5,531,000.

Several other hedge funds have also recently bought and sold shares of BN. The Manufacturers Life Insurance Company increased its position in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after acquiring an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in 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 purchasing an additional 196,790 shares during the period. Toronto Dominion Bank increased its holdings in 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 in the last quarter. Geode Capital Management LLC increased 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 worth $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Brookfield by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after purchasing an additional 351,231 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BN has been the subject of a number of research reports. Scotiabank increased their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Trading Up 1.1 %

Shares of Brookfield stock opened at $57.51 on Friday. Brookfield Co. has a 12-month low of $37.79 and a 12-month high of $62.44. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $58.11 and its 200-day moving average is $52.38. The stock has a market cap of $86.75 billion, a P/E ratio of 122.36 and a beta of 1.56.

Brookfield Announces Dividend

The company 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio is currently 68.09%.

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.