People s United Financial Inc. Invests $275,000 in Polaris Industries Inc. (PII) Stock
People s United Financial Inc. acquired a new position in shares of Polaris Industries Inc. (NYSE:PII) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,980 shares of the company’s stock, valued at approximately $275,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PII. UBS Asset Management Americas Inc. increased its holdings in Polaris Industries by 11.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 151,609 shares of the company’s stock worth $12,705,000 after purchasing an additional 15,281 shares during the period. TD Asset Management Inc. increased its holdings in Polaris Industries by 8.6% during the 1st quarter. TD Asset Management Inc. now owns 4,297 shares of the company’s stock worth $360,000 after purchasing an additional 340 shares during the period. JPMorgan Chase & Co. increased its holdings in Polaris Industries by 11.3% during the 1st quarter. JPMorgan Chase & Co. now owns 172,079 shares of the company’s stock worth $14,422,000 after purchasing an additional 17,428 shares during the period. Prudential Financial Inc. increased its holdings in Polaris Industries by 7.5% during the 1st quarter. Prudential Financial Inc. now owns 49,755 shares of the company’s stock worth $4,169,000 after purchasing an additional 3,476 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Polaris Industries by 510.0% during the 1st quarter. Victory Capital Management Inc. now owns 46,550 shares of the company’s stock worth $3,901,000 after purchasing an additional 38,919 shares during the period. Institutional investors own 95.20% of the company’s stock.
Polaris Industries Inc. (NYSE:PII) opened at 103.99 on Monday. The stock has a 50 day moving average price of $100.36 and a 200-day moving average price of $90.37. Polaris Industries Inc. has a one year low of $73.07 and a one year high of $108.46. The stock has a market capitalization of $6.51 billion, a P/E ratio of 43.49 and a beta of 1.31.
Polaris Industries (NYSE:PII) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.08. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.26 billion. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. Analysts anticipate that Polaris Industries Inc. will post $4.49 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Wednesday, August 30th. Polaris Industries’s payout ratio is 97.07%.
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Several research analysts have commented on the company. Northcoast Research restated a “neutral” rating on shares of Polaris Industries in a report on Friday. KeyCorp restated a “hold” rating on shares of Polaris Industries in a report on Wednesday, October 4th. Royal Bank Of Canada restated a “sell” rating and set a $80.00 price objective on shares of Polaris Industries in a report on Tuesday, October 3rd. Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a report on Friday, September 29th. Finally, Stifel Nicolaus restated a “hold” rating and set a $98.00 price objective (up from $87.00) on shares of Polaris Industries in a report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Polaris Industries presently has a consensus rating of “Hold” and a consensus target price of $91.31.
In other news, CEO Scott W. Wine acquired 1,293 shares of the company’s stock in a transaction on Friday, August 18th. The shares were bought at an average price of $88.81 per share, with a total value of $114,831.33. Following the completion of the acquisition, the chief executive officer now owns 317,000 shares in the company, valued at approximately $28,152,770. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George W. Bilicic acquired 2,833 shares of the company’s stock in a transaction on Friday, August 25th. The shares were purchased at an average cost of $95.18 per share, for a total transaction of $269,644.94. Following the acquisition, the director now owns 2,833 shares of the company’s stock, valued at approximately $269,644.94. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.
Polaris Industries Profile
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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