Kovack Advisors Inc. Buys Shares of 4,137 Brookfield Co. (NYSE:BN)

Kovack Advisors Inc. purchased a new position in shares of Brookfield Co. (NYSE:BN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,137 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Nicholas Hoffman & Company LLC. grew its stake in shares of Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after acquiring an additional 257 shares during the period. Blue Trust Inc. lifted its holdings in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after purchasing an additional 292 shares during the period. Rosenberg Matthew Hamilton increased its stake in shares of Brookfield by 20.6% in the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Brookfield by 6.7% during the 2nd quarter. UMB Bank n.a. now owns 5,878 shares of the company’s stock valued at $244,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE:BN opened at $56.79 on Friday. The company has a market cap of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53. Brookfield Co. has a 1 year low of $33.61 and a 1 year high of $60.20. The stock’s 50 day simple moving average is $53.47 and its two-hundred day simple moving average is $47.65. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio is presently 68.09%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday. Royal Bank of Canada cut their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Scotiabank boosted their price target on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday. TD Securities increased their price objective 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, JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.