Principal Financial Group Inc. Trims Stake in Brunswick Corporation (BC)
Principal Financial Group Inc. trimmed its holdings in Brunswick Corporation (NYSE:BC) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 380,414 shares of the company’s stock after selling 3,832 shares during the quarter. Principal Financial Group Inc. owned 0.43% of Brunswick Corporation worth $21,291,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of BC. Aspen Investment Management Inc raised its stake in shares of Brunswick Corporation by 0.9% in the second quarter. Aspen Investment Management Inc now owns 5,420 shares of the company’s stock valued at $340,000 after purchasing an additional 50 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Brunswick Corporation by 2.7% in the second quarter. Advisor Group Inc. now owns 3,306 shares of the company’s stock valued at $202,000 after purchasing an additional 87 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Brunswick Corporation by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 7,180 shares of the company’s stock valued at $450,000 after purchasing an additional 98 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Brunswick Corporation by 2.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,536 shares of the company’s stock valued at $285,000 after purchasing an additional 106 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Brunswick Corporation by 1.5% in the second quarter. HighTower Advisors LLC now owns 8,107 shares of the company’s stock valued at $509,000 after purchasing an additional 122 shares in the last quarter. 89.12% of the stock is owned by institutional investors.
Brunswick Corporation (BC) opened at $52.59 on Thursday. The stock has a market capitalization of $4,603.72, a PE ratio of 13.93, a P/E/G ratio of 0.84 and a beta of 1.87. Brunswick Corporation has a 1-year low of $47.53 and a 1-year high of $63.82. The company has a quick ratio of 0.95, a current ratio of 1.81 and a debt-to-equity ratio of 0.28.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.09). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. Brunswick Corporation had a net margin of 5.93% and a return on equity of 22.71%. Brunswick Corporation’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. equities analysts forecast that Brunswick Corporation will post 3.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, November 21st will be issued a $0.19 dividend. This is a boost from Brunswick Corporation’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.76 annualized dividend and a yield of 1.45%. Brunswick Corporation’s dividend payout ratio (DPR) is currently 24.52%.
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BC has been the subject of a number of recent research reports. Aegis restated a “buy” rating and issued a $73.00 target price on shares of Brunswick Corporation in a research note on Thursday, August 17th. ValuEngine lowered Brunswick Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Forward View upgraded Brunswick Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Sunday, September 3rd. Northcoast Research upgraded Brunswick Corporation from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. Finally, BMO Capital Markets cut their target price on Brunswick Corporation from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.50.
Brunswick Corporation Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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