United Services Automobile Association Sells 6,028 Shares of Brookfield Co. (NYSE:BN)

United Services Automobile Association lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,629 shares of the company’s stock after selling 6,028 shares during the period. United Services Automobile Association’s holdings in Brookfield were worth $2,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BN. Cetera Advisors LLC boosted its holdings in shares of Brookfield by 183.9% during the 1st quarter. Cetera Advisors LLC now owns 17,937 shares of the company’s stock valued at $751,000 after buying an additional 11,620 shares in the last quarter. Asset Management Advisors LLC boosted its holdings in shares of Brookfield by 1.1% during the 2nd quarter. Asset Management Advisors LLC now owns 168,760 shares of the company’s stock valued at $7,010,000 after buying an additional 1,900 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of 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 buying an additional 2,388 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Brookfield by 324.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after buying an additional 80,762 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Brookfield by 0.5% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 138,393 shares of the company’s stock valued at $5,753,000 after buying an additional 710 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN opened at $59.81 on Friday. Brookfield Co. has a fifty-two week low of $35.51 and a fifty-two week high of $62.44. The business has a 50-day simple moving average of $56.11 and a two-hundred day simple moving average of $49.35. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The firm has a market cap of $98.49 billion, a price-to-earnings ratio of 127.26 and a beta of 1.55.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BN shares. Scotiabank lifted their price target on 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 reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, TD Securities lifted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

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.