Massachusetts Financial Services Co. MA Has $142.85 Million Stock Position in Brookfield Co. (NYSE:BN)

Massachusetts Financial Services Co. MA lessened its position in shares of Brookfield Co. (NYSE:BN) by 8.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,687,618 shares of the company’s stock after selling 240,910 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Brookfield were worth $142,847,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in shares of Brookfield by 1,022.6% during the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after purchasing an additional 248,506 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in 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 buying an additional 80,762 shares during the period. Callan Family Office LLC bought a new position in shares of Brookfield during the 2nd quarter worth approximately $446,000. Leavell Investment Management Inc. grew its position in shares of Brookfield by 373.2% during the 3rd quarter. Leavell Investment Management Inc. now owns 35,118 shares of the company’s stock worth $1,867,000 after buying an additional 27,696 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Brookfield by 5.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after acquiring an additional 9,915 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN opened at $58.27 on Friday. The firm has a market capitalization of $95.95 billion, a P/E ratio of 123.98 and a beta of 1.53. Brookfield Co. has a 52 week low of $33.72 and a 52 week high of $60.20. The stock has a 50 day moving average price of $54.36 and a two-hundred day moving average price of $48.21. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17.

Brookfield Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BN. JPMorgan Chase & Co. increased their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank increased their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada cut their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, TD Securities boosted their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Brookfield presently 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.