The Manufacturers Life Insurance Company Increases Holdings in Juniper Networks, Inc. (NYSE:JNPR)
The Manufacturers Life Insurance Company raised its stake in shares of Juniper Networks, Inc. (NYSE:JNPR) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 367,036 shares of the network equipment provider’s stock after buying an additional 35,971 shares during the period. The Manufacturers Life Insurance Company owned about 0.11% of Juniper Networks worth $7,024,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in JNPR. Wells Fargo & Company MN increased its stake in shares of Juniper Networks by 476.5% in the 1st quarter. Wells Fargo & Company MN now owns 6,169,639 shares of the network equipment provider’s stock worth $118,086,000 after purchasing an additional 5,099,406 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Juniper Networks by 103.3% in the 4th quarter. Renaissance Technologies LLC now owns 5,339,391 shares of the network equipment provider’s stock worth $131,509,000 after purchasing an additional 2,712,791 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Juniper Networks by 584.5% in the 1st quarter. APG Asset Management N.V. now owns 3,091,145 shares of the network equipment provider’s stock worth $72,870,000 after purchasing an additional 2,639,536 shares in the last quarter. Norges Bank purchased a new stake in shares of Juniper Networks in the 4th quarter worth $59,132,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Juniper Networks in the 4th quarter worth $48,136,000. Institutional investors and hedge funds own 89.47% of the company’s stock.
JNPR opened at $22.54 on Friday. The firm has a 50-day simple moving average of $23.50 and a two-hundred day simple moving average of $22.89. Juniper Networks, Inc. has a 52 week low of $15.20 and a 52 week high of $27.57. The company has a market capitalization of $7.47 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.55 and a beta of 0.96. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.39.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, May 29th. Juniper Networks’s dividend payout ratio (DPR) is presently 66.12%.
In other Juniper Networks news, EVP Manoj Leelanivas sold 22,587 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $24.00, for a total transaction of $542,088.00. Following the completion of the transaction, the executive vice president now owns 63,459 shares of the company’s stock, valued at approximately $1,523,016. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
JNPR has been the subject of several analyst reports. Nomura upped their price objective on Juniper Networks from $24.00 to $27.00 in a research note on Wednesday, April 29th. Royal Bank of Canada restated a “hold” rating and issued a $23.00 price objective on shares of Juniper Networks in a research note on Wednesday, March 18th. Nomura Instinet upped their price objective on Juniper Networks from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upgraded Juniper Networks from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research note on Sunday, April 19th. Finally, Nomura Securities cut their price target on Juniper Networks from $26.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Juniper Networks presently has an average rating of “Hold” and an average target price of $24.59.
Juniper Networks Company Profile
Juniper Networks, Inc designs, develops, and sells network products and services worldwide. The company offers various routing products, such as ACX series universal access routers to deploy new high-bandwidth services; MX series Ethernet routers that functions as a universal edge platform; PTX series packet transport routers; cloud customer premises equipment; and NorthStar controllers.
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