Voya Financial Advisors Inc. Decreases Stock Position in Brookfield Co. (NYSE:BN)

Voya Financial Advisors Inc. decreased its position in shares of Brookfield Co. (NYSE:BN) by 11.9% during the third quarter, HoldingsChannel reports. The fund owned 9,069 shares of the company’s stock after selling 1,220 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Brookfield were worth $484,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its holdings in shares of Brookfield by 183.9% in the first quarter. Cetera Advisors LLC now owns 17,937 shares of the company’s stock valued at $751,000 after acquiring an additional 11,620 shares in the last quarter. Simplicity Wealth LLC raised its stake in Brookfield by 1.7% in the 2nd quarter. Simplicity Wealth LLC now owns 22,411 shares of the company’s stock worth $931,000 after acquiring an additional 381 shares during the last quarter. Asset Management Advisors LLC lifted its position in Brookfield by 1.1% during the 2nd quarter. Asset Management Advisors LLC now owns 168,760 shares of the company’s stock worth $7,010,000 after acquiring an additional 1,900 shares during the period. Sequoia Financial Advisors LLC grew its stake in Brookfield by 15.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 18,270 shares of the company’s stock valued at $759,000 after purchasing an additional 2,388 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after purchasing an additional 80,762 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Down 0.3 %

Shares of NYSE:BN opened at $59.82 on Friday. 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 stock has a market cap of $98.51 billion, a P/E ratio of 127.28 and a beta of 1.55. Brookfield Co. has a 1-year low of $35.51 and a 1-year high of $62.44. The firm has a fifty day moving average price of $56.11 and a 200 day moving average price of $49.32.

Brookfield Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BN shares. Keefe, Bruyette & Woods increased 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. Scotiabank lifted their price target on Brookfield from $65.00 to $69.00 and gave the company 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 lifted their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada lowered their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.31.

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.