Principal Financial Group Inc. reduced its stake in Brink’s (NYSE:BCO) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545,834 shares of the business services provider’s stock after selling 23,549 shares during the period. Principal Financial Group Inc.’s holdings in Brink’s were worth $41,161,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Falcon Point Capital LLC boosted its holdings in Brink’s by 0.3% during the first quarter. Falcon Point Capital LLC now owns 50,019 shares of the business services provider’s stock worth $3,772,000 after purchasing an additional 153 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Brink’s by 9.8% during the fourth quarter. Brown Advisory Inc. now owns 8,520 shares of the business services provider’s stock worth $551,000 after purchasing an additional 762 shares during the last quarter. Sciencast Management LP purchased a new position in Brink’s during the first quarter worth about $282,000. Texas Permanent School Fund boosted its holdings in Brink’s by 3.3% during the fourth quarter. Texas Permanent School Fund now owns 33,123 shares of the business services provider’s stock worth $2,141,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Brink’s by 52.5% during the fourth quarter. Rhumbline Advisers now owns 164,090 shares of the business services provider’s stock worth $10,608,000 after purchasing an additional 56,461 shares during the last quarter. 98.36% of the stock is owned by hedge funds and other institutional investors.
Brink’s stock traded up $0.10 during midday trading on Wednesday, hitting $81.41. 3,358 shares of the stock were exchanged, compared to its average volume of 350,267. The company has a debt-to-equity ratio of 8.90, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $4.02 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.32 and a beta of 1.50. Brink’s has a 52-week low of $59.08 and a 52-week high of $86.34.
The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 16th. Brink’s’s payout ratio is 17.34%.
Separately, Zacks Investment Research upgraded shares of Brink’s from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Brink’s currently has an average rating of “Buy” and a consensus target price of $90.00.
In other Brink’s news, EVP Amit Zukerman sold 5,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas Colan sold 6,374 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $83.51, for a total transaction of $532,292.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,320 shares of company stock worth $2,686,656. Corporate insiders own 1.05% of the company’s stock.
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The Brink's Company provides secure transportation, cash management, and other security-related services in North America, South America, and internationally. The company offers cash-in-transit services, including armored vehicle transportation of valuables; automated teller machine (ATM) services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first and second line maintenance; and network infrastructure services.
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