The Manufacturers Life Insurance Company Raises Holdings in Polaris Industries Inc. (PII)
The Manufacturers Life Insurance Company raised its position in Polaris Industries Inc. (NYSE:PII) by 12.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,256,665 shares of the company’s stock after buying an additional 572,461 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 8.40% of Polaris Industries worth $484,822,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PII. UBS Asset Management Americas Inc. lifted its stake in Polaris Industries by 11.2% in the first quarter. UBS Asset Management Americas Inc. now owns 151,609 shares of the company’s stock valued at $12,705,000 after buying an additional 15,281 shares during the last quarter. TD Asset Management Inc. lifted its stake in Polaris Industries by 8.6% in the first quarter. TD Asset Management Inc. now owns 4,297 shares of the company’s stock valued at $360,000 after buying an additional 340 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Polaris Industries by 11.3% in the first quarter. JPMorgan Chase & Co. now owns 172,079 shares of the company’s stock valued at $14,422,000 after buying an additional 17,428 shares during the last quarter. Prudential Financial Inc. lifted its stake in Polaris Industries by 7.5% in the first quarter. Prudential Financial Inc. now owns 49,755 shares of the company’s stock valued at $4,169,000 after buying an additional 3,476 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in Polaris Industries in the first quarter valued at approximately $431,000. Institutional investors own 95.20% of the company’s stock.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Friday, September 22nd. UBS AG cut their price target on Polaris Industries from $108.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, September 15th. BMO Capital Markets upped their price target on Polaris Industries from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, September 15th. KeyCorp restated a “hold” rating on shares of Polaris Industries in a research note on Wednesday. Finally, Royal Bank Of Canada restated a “sell” rating and set a $80.00 price target on shares of Polaris Industries in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $91.31.
In other news, SVP James P. Williams sold 5,250 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $93.24, for a total value of $489,510.00. Following the sale, the senior vice president now owns 19,914 shares of the company’s stock, valued at approximately $1,856,781.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George W. Bilicic acquired 2,833 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was purchased at an average cost of $95.18 per share, for a total transaction of $269,644.94. Following the purchase, the director now directly owns 2,833 shares in the company, valued at approximately $269,644.94. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by insiders.
Shares of Polaris Industries Inc. (PII) traded down 0.55% on Friday, reaching $103.99. The company had a trading volume of 783,273 shares. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 43.49 and a beta of 1.31. Polaris Industries Inc. has a 12 month low of $73.32 and a 12 month high of $108.46. The stock has a 50 day moving average price of $100.36 and a 200-day moving average price of $90.37.
Polaris Industries (NYSE:PII) last announced its earnings results on Thursday, July 20th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.08. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.26 billion. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. Analysts forecast that Polaris Industries Inc. will post $4.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, August 30th. Polaris Industries’s dividend payout ratio is presently 97.07%.
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About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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