Principal Financial Group Inc. Grows Holdings in Brunswick Co. (NYSE:BC)

Principal Financial Group Inc. grew its stake in shares of Brunswick Co. (NYSE:BC) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,075,845 shares of the company’s stock after buying an additional 28,781 shares during the quarter. Principal Financial Group Inc.’s holdings in Brunswick were worth $90,171,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BC. Lord Abbett & CO. LLC lifted its position in Brunswick by 50.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 683,943 shares of the company’s stock worth $57,328,000 after buying an additional 228,662 shares during the last quarter. Franklin Resources Inc. grew its position in Brunswick by 2.5% during the third quarter. Franklin Resources Inc. now owns 233,128 shares of the company’s stock valued at $19,394,000 after acquiring an additional 5,604 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Brunswick by 12.1% during the third quarter. Sanctuary Advisors LLC now owns 12,808 shares of the company’s stock worth $1,055,000 after acquiring an additional 1,387 shares in the last quarter. Barclays PLC lifted its holdings in shares of Brunswick by 78.6% in the 3rd quarter. Barclays PLC now owns 118,189 shares of the company’s stock worth $9,907,000 after acquiring an additional 52,024 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Brunswick by 30.7% in the 3rd quarter. MML Investors Services LLC now owns 7,119 shares of the company’s stock valued at $597,000 after purchasing an additional 1,671 shares in the last quarter. 99.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BC shares. B. Riley cut shares of Brunswick from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $95.00 to $88.00 in a research report on Tuesday, November 26th. Benchmark reissued a “buy” rating and issued a $100.00 target price on shares of Brunswick in a research note on Friday, October 25th. Finally, Citigroup raised their price target on Brunswick from $92.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.54.

Insiders Place Their Bets

In related news, Director Nancy E. Cooper sold 366 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.19, for a total value of $29,349.54. Following the completion of the transaction, the director now directly owns 24,557 shares in the company, valued at $1,969,225.83. This trade represents a 1.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph W. Mcclanathan sold 4,745 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $80.14, for a total transaction of $380,264.30. Following the sale, the director now directly owns 19,218 shares in the company, valued at $1,540,130.52. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,940 shares of company stock worth $2,321,176 over the last three months. Company insiders own 0.81% of the company’s stock.

Brunswick Stock Performance

NYSE:BC opened at $66.75 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.97 and a debt-to-equity ratio of 1.17. The firm’s fifty day simple moving average is $79.44 and its 200 day simple moving average is $78.11. The stock has a market cap of $4.40 billion, a P/E ratio of 16.60 and a beta of 1.50. Brunswick Co. has a twelve month low of $66.40 and a twelve month high of $99.68.

Brunswick Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 20th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, November 20th. Brunswick’s payout ratio is currently 41.79%.

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.