Principal Financial Group Inc. Sells 33,071 Shares of Brunswick Co. (NYSE:BC)

Principal Financial Group Inc. lessened its holdings in Brunswick Co. (NYSE:BC - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,114,293 shares of the company's stock after selling 33,071 shares during the period. Principal Financial Group Inc. owned 1.60% of Brunswick worth $107,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BC. Raymond James Trust N.A. increased its position in Brunswick by 4.4% during the 4th quarter. Raymond James Trust N.A. now owns 2,863 shares of the company's stock worth $277,000 after buying an additional 120 shares during the period. Wrapmanager Inc. grew its holdings in shares of Brunswick by 5.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,806 shares of the company's stock worth $222,000 after purchasing an additional 149 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Brunswick by 2.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,488 shares of the company's stock worth $434,000 after purchasing an additional 155 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Brunswick by 17.9% during the 3rd quarter. Fifth Third Bancorp now owns 1,042 shares of the company's stock worth $82,000 after purchasing an additional 158 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Brunswick by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 32,157 shares of the company's stock worth $2,540,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 99.34% of the company's stock.

Analyst Ratings Changes

BC has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on Brunswick from $88.00 to $97.00 and gave the company a "buy" rating in a research note on Wednesday, January 17th. BNP Paribas reaffirmed a "neutral" rating and issued a $82.00 price objective (down from $94.00) on shares of Brunswick in a research note on Monday, April 15th. DA Davidson reissued a "neutral" rating and set a $77.00 price target on shares of Brunswick in a research note on Friday, March 15th. B. Riley raised Brunswick from a "neutral" rating to a "buy" rating and lifted their price target for the company from $100.00 to $108.00 in a research note on Tuesday, February 20th. Finally, Truist Financial cut their price target on Brunswick from $115.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $92.83.

Brunswick Stock Performance

Shares of BC remained flat at $83.39 during mid-day trading on Monday. The stock had a trading volume of 565,758 shares, compared to its average volume of 733,482. The company has a market capitalization of $5.63 billion, a PE ratio of 15.57 and a beta of 1.60. The stock has a 50 day simple moving average of $87.92 and a 200 day simple moving average of $85.58. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.68 and a quick ratio of 0.75. Brunswick Co. has a 52 week low of $66.47 and a 52 week high of $99.68.

Brunswick (NYSE:BC - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.36 by ($0.01). The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brunswick had a return on equity of 25.37% and a net margin of 6.24%. The company's revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.57 earnings per share. On average, analysts predict that Brunswick Co. will post 7.39 EPS for the current year.

Brunswick Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, May 13th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.68 dividend on an annualized basis and a yield of 2.01%. Brunswick's dividend payout ratio (DPR) is presently 31.23%.

Insider Buying and Selling at Brunswick

In other Brunswick news, Director Nancy E. Cooper sold 357 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $80.34, for a total value of $28,681.38. Following the completion of the sale, the director now owns 23,211 shares of the company's stock, valued at $1,864,771.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP John G. Buelow sold 2,426 shares of Brunswick stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $87.12, for a total transaction of $211,353.12. Following the transaction, the executive vice president now owns 14,199 shares of the company's stock, valued at $1,237,016.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nancy E. Cooper sold 357 shares of Brunswick stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $80.34, for a total value of $28,681.38. Following the transaction, the director now directly owns 23,211 shares in the company, valued at approximately $1,864,771.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,044 shares of company stock valued at $4,176,480. Company insiders own 0.81% of the company's stock.

About Brunswick

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.