Biltmore Family Office LLC Acquires Shares of 4,000 Brookfield Co. (NYSE:BN)

Biltmore Family Office LLC bought a new position in shares of Brookfield Co. (NYSE:BN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,000 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also modified their holdings of BN. SG Americas Securities LLC purchased a new stake in shares of Brookfield during the second quarter worth about $128,321,000. Wulff Hansen & CO. increased its stake in shares of Brookfield by 4,054.0% during the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock worth $64,076,000 after purchasing an additional 1,505,372 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Brookfield by 4,149.3% during the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock worth $41,263,000 after purchasing an additional 758,076 shares in the last quarter. Glazer Capital LLC purchased a new stake in Brookfield during the 2nd quarter valued at about $30,740,000. Finally, Wolverine Asset Management LLC grew its stake in Brookfield by 6,934.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 710,095 shares of the company’s stock valued at $29,497,000 after acquiring an additional 700,000 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE:BN opened at $58.27 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 firm has a market capitalization of $95.95 billion, a price-to-earnings ratio of 123.98 and a beta of 1.53. The company’s 50-day moving average is $54.36 and its two-hundred day moving average is $48.18. Brookfield Co. has a 1-year low of $33.72 and a 1-year high of $60.20.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. Brookfield’s dividend payout ratio is currently 68.09%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Scotiabank upped their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. TD Securities upped their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average 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.