Corebridge Financial Inc. Sells 3,663 Shares of Brunswick Co. (NYSE:BC)

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

Several other institutional investors also recently modified their holdings of BC. Charles Schwab Investment Management Inc. raised its position in shares of Brunswick by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 701,269 shares of the company’s stock valued at $58,780,000 after buying an additional 1,765 shares in the last quarter. Bank of Montreal Can increased its stake in Brunswick by 8.5% in the third quarter. Bank of Montreal Can now owns 43,592 shares of the company’s stock valued at $3,685,000 after acquiring an additional 3,399 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Brunswick by 134.5% during the third quarter. BNP Paribas Financial Markets now owns 6,713 shares of the company’s stock worth $563,000 after purchasing an additional 3,850 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Brunswick by 13.6% in the 3rd quarter. Captrust Financial Advisors now owns 10,422 shares of the company’s stock worth $874,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Brunswick during the 3rd quarter valued at about $5,280,000. 99.34% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the transaction, the director now directly owns 25,361 shares in the company, valued at $1,664,949.65. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Robert W. Baird set a $90.00 target price on Brunswick in a research note on Friday, January 31st. Truist Financial reduced their target price on shares of Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. B. Riley upgraded shares of Brunswick to a “hold” rating in a research report on Wednesday, February 12th. Roth Mkm reduced their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Finally, Benchmark lowered their target price on Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.62.

Brunswick Price Performance

Shares of Brunswick stock opened at $53.40 on Friday. The company 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 52 week low of $52.99 and a 52 week high of $96.51. The company has a quick ratio of 0.63, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 30th. The company reported $0.24 EPS 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 period in the previous year, the business posted $1.45 earnings per share. As a group, equities research analysts forecast that Brunswick Co. will post 4.19 earnings per share for the current 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 issued a dividend of $0.43 per share. This is an increase from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.22%. Brunswick’s dividend payout ratio is 90.53%.

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.