Corebridge Financial Inc. Has $4.83 Million Position in Brunswick Co. (NYSE:BC)

Corebridge Financial Inc. trimmed its holdings in Brunswick Co. (NYSE:BC) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,659 shares of the company’s stock after selling 3,663 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Brunswick worth $4,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Brunswick during the 4th quarter worth approximately $29,646,000. Janus Henderson Group PLC boosted its stake in 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 in the last quarter. Lightrock Netherlands B.V. acquired a new stake in Brunswick in the fourth quarter worth $16,400,000. Thrivent Financial for Lutherans increased its stake in Brunswick by 43.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 769,907 shares of the company’s stock valued at $49,798,000 after purchasing an additional 232,622 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Brunswick by 50.2% during the third 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 period. Institutional investors own 99.34% of the company’s stock.

Brunswick Stock Performance

BC stock opened at $53.40 on Friday. 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 firm has a market cap of $3.52 billion, a PE ratio of 28.11 and a beta of 1.54. The business has a 50 day moving average of $62.35 and a 200-day moving average of $71.83. Brunswick Co. has a 12-month low of $52.99 and a 12-month high of $96.51.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, January 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. Brunswick had a return on equity of 15.41% and a net margin of 2.48%. During the same quarter last year, the firm posted $1.45 earnings per share. As a group, sell-side analysts expect that Brunswick Co. will post 4.19 earnings per share for the current year.

Brunswick Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 24th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.22%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. Brunswick’s dividend payout ratio is 90.53%.

Analysts Set New Price Targets

A number of brokerages recently commented on BC. B. Riley raised Brunswick to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial lowered their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Benchmark reduced their price target on shares of Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Robert W. Baird set a $90.00 price objective on shares of Brunswick in a report on Friday, January 31st. Finally, DA Davidson reduced their price objective on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.62.

Insider Transactions at Brunswick

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

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.