Principal Financial Group Inc. Sells 20,242 Shares of Brink’s Company (The) $BCO

Principal Financial Group Inc. decreased its position in shares of Brink’s Company (The) (NYSE:BCO) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,219 shares of the business services provider’s stock after selling 20,242 shares during the quarter. Principal Financial Group Inc.’s holdings in Brink’s were worth $11,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. SG Capital Management LLC bought a new position in shares of Brink’s during the second quarter valued at $8,842,000. Edgestream Partners L.P. increased its holdings in Brink’s by 78.3% in the second quarter. Edgestream Partners L.P. now owns 51,949 shares of the business services provider’s stock valued at $4,639,000 after purchasing an additional 22,810 shares during the period. Vest Financial LLC increased its holdings in Brink’s by 69.8% in the third quarter. Vest Financial LLC now owns 41,341 shares of the business services provider’s stock valued at $4,831,000 after purchasing an additional 16,987 shares during the period. Capital Fund Management S.A. bought a new position in Brink’s during the 2nd quarter worth $1,341,000. Finally, Fourth Sail Capital LP acquired a new position in Brink’s during the 2nd quarter worth about $25,135,000. Institutional investors own 94.96% of the company’s stock.

Wall Street Analysts Forecast Growth

BCO has been the subject of several recent research reports. Weiss Ratings raised Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Truist Financial upped their target price on Brink’s from $138.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Brink’s currently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Insider Transactions at Brink’s

In other Brink’s news, insider Michael E. Sweeney sold 1,418 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $119.50, for a total value of $169,451.00. Following the transaction, the insider directly owned 5,755 shares of the company’s stock, valued at approximately $687,722.50. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.49% of the company’s stock.

Brink’s Stock Performance

Shares of Brink’s stock opened at $130.59 on Thursday. The business has a 50-day moving average price of $122.35 and a two-hundred day moving average price of $114.86. Brink’s Company has a 1-year low of $80.10 and a 1-year high of $133.62. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 9.14. The company has a market cap of $5.43 billion, a P/E ratio of 33.40 and a beta of 1.09.

Brink’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, February 2nd. Brink’s’s payout ratio is presently 26.09%.

Brink’s declared that its board has initiated a share buyback plan on Thursday, December 11th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 15.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Brink’s Profile

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.