PNC Financial Services Group Inc. Increases Stock Position in Brunswick Co. (NYSE:BC)

PNC Financial Services Group Inc. grew its position in shares of Brunswick Co. (NYSE:BC) by 56.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,537 shares of the company’s stock after purchasing an additional 1,992 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Brunswick were worth $358,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Brunswick during the 4th quarter worth approximately $29,646,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Brunswick by 17.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock valued at $259,010,000 after acquiring an additional 452,116 shares during the period. Janus Henderson Group PLC grew its position in shares of Brunswick by 1,120.5% during the third quarter. Janus Henderson Group PLC now owns 354,631 shares of the company’s stock worth $29,725,000 after acquiring an additional 325,574 shares during the last quarter. Lightrock Netherlands B.V. acquired a new position in shares of Brunswick in the 4th quarter valued at $16,400,000. Finally, Lord Abbett & CO. LLC raised 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 valued at $57,328,000 after purchasing an additional 228,662 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. B. Riley raised shares of Brunswick to a “hold” rating in a research report on Wednesday, February 12th. Benchmark dropped their price target on Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. DA Davidson reduced their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Stifel Nicolaus lowered their target price on Brunswick from $95.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Finally, Citigroup cut their price target on Brunswick from $92.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Brunswick currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.62.

Insider Buying and Selling at Brunswick

In related news, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the completion of the transaction, the senior vice president now directly owns 26,683 shares in the company, valued at $1,686,632.43. The trade was a 11.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Nancy E. Cooper sold 433 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the sale, the director now directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Brunswick Stock Performance

NYSE:BC opened at $56.38 on Friday. The firm’s fifty day simple moving average is $63.54 and its 200-day simple moving average is $72.73. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. The stock has a market cap of $3.71 billion, a PE ratio of 29.68 and a beta of 1.54. Brunswick Co. has a fifty-two week low of $54.97 and a fifty-two week high of $96.65.

Brunswick (NYSE:BC) last issued its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter last year, the company earned $1.45 EPS. Analysts expect that Brunswick Co. will post 4.19 earnings per share for the current fiscal year.

Brunswick Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.05%. This is an increase from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, February 24th. Brunswick’s payout ratio is presently 90.53%.

Brunswick Company Profile

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.