Synovus Financial Corp Sells 9,868 Shares of Brookfield Co. (NYSE:BN)

Synovus Financial Corp decreased its position in shares of Brookfield Co. (NYSE:BN) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,391 shares of the company’s stock after selling 9,868 shares during the period. Synovus Financial Corp’s holdings in Brookfield were worth $4,857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Brookfield during the second quarter valued at about $31,000. Family Firm Inc. bought a new stake in shares of Brookfield during the second quarter worth about $36,000. First Personal Financial Services acquired a new position in shares of Brookfield in the third quarter valued at approximately $42,000. Finally, FSA Wealth Management LLC bought a new position in Brookfield in the 3rd quarter valued at approximately $42,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of NYSE BN opened at $58.68 on Friday. The company has a market capitalization of $96.63 billion, a PE ratio of 124.85 and a beta of 1.55. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $37.77 and a twelve month high of $62.44. The firm has a fifty day simple moving average of $56.74 and a 200 day simple moving average of $49.83.

Brookfield Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BN shares. Scotiabank boosted their target price on shares of 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 reiterated an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.