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

Principal Financial Group Inc. reduced its position in shares of Brink’s Company (The) (NYSE:BCO) by 17.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,219 shares of the business services provider’s stock after selling 20,242 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Brink’s worth $11,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of Brink’s during the third quarter worth $34,000. Caldwell Trust Co acquired a new position in shares of Brink’s in the second quarter valued at about $27,000. Covestor Ltd increased its position in Brink’s by 55.6% during the third quarter. Covestor Ltd now owns 434 shares of the business services provider’s stock worth $51,000 after acquiring an additional 155 shares during the period. CWM LLC raised its stake in Brink’s by 53.8% in the 2nd quarter. CWM LLC now owns 512 shares of the business services provider’s stock worth $46,000 after purchasing an additional 179 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Brink’s by 161.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 323 shares during the period. 94.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BCO has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 24th. Truist Financial lifted their price objective on Brink’s from $138.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Brink’s has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Insider Activity at Brink’s

In other news, insider Michael E. Sweeney sold 1,418 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $119.50, for a total value of $169,451.00. Following the sale, the insider directly owned 5,755 shares in the company, valued at approximately $687,722.50. This trade represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.49% of the company’s stock.

Brink’s Stock Down 0.7%

Shares of BCO opened at $130.59 on Thursday. The firm has a 50 day simple moving average of $122.35 and a two-hundred day simple moving average of $114.86. The company has a debt-to-equity ratio of 9.14, a current ratio of 1.46 and a quick ratio of 1.46. Brink’s Company has a one year low of $80.10 and a one year high of $133.62. 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 Announces Dividend

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 paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $1.02 annualized dividend and a yield of 0.8%. Brink’s’s payout ratio is presently 26.09%.

Brink’s announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 11th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy up to 15.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Brink’s Company 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.