The Manufacturers Life Insurance Company Sells 146,025 Shares of Polaris Inc. (NYSE:PII)

The Manufacturers Life Insurance Company lowered its holdings in shares of Polaris Inc. (NYSE:PII) by 6.2% during the second quarter, Holdings Channel reports. The institutional investor owned 2,193,146 shares of the company’s stock after selling 146,025 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Polaris were worth $171,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors raised its holdings in shares of Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after buying an additional 160,918 shares in the last quarter. Vanguard Group Inc. raised its stake in Polaris by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after acquiring an additional 94,680 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Polaris during the first quarter worth $108,890,000. Dimensional Fund Advisors LP lifted its holdings in shares of Polaris by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock valued at $76,994,000 after acquiring an additional 96,194 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Polaris by 311.6% in the 2nd quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after purchasing an additional 292,992 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Trading Up 0.5 %

Polaris stock opened at $84.94 on Friday. Polaris Inc. has a one year low of $71.90 and a one year high of $106.17. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 7.54 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. The firm has a 50-day moving average of $81.95 and a 200-day moving average of $83.98.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business’s revenue was down 11.5% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. On average, equities analysts expect that Polaris Inc. will post 3.79 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, September 3rd. Polaris’s dividend payout ratio is presently 38.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PII. KeyCorp dropped their price objective on shares of Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Citigroup dropped their price target on Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Bank of America decreased their target price on Polaris from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Longbow Research restated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Finally, Roth Mkm reduced their price target on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.18.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.