The Manufacturers Life Insurance Company Increases Stock Position in Polaris Inc. (NYSE:PII)

The Manufacturers Life Insurance Company grew its holdings in shares of Polaris Inc. (NYSE:PII) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,262,990 shares of the company’s stock after buying an additional 69,844 shares during the period. The Manufacturers Life Insurance Company owned 4.06% of Polaris worth $188,371,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its stake in Polaris by 311.6% during the second quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after acquiring an additional 292,992 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in shares of Polaris in the 2nd quarter worth approximately $15,363,000. RWWM Inc. increased its position in Polaris by 192.3% during the 2nd quarter. RWWM Inc. now owns 272,452 shares of the company’s stock valued at $21,334,000 after buying an additional 179,244 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Polaris by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after buying an additional 171,366 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Polaris by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after acquiring an additional 96,194 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Polaris Price Performance

Shares of NYSE:PII opened at $67.51 on Wednesday. The firm’s 50 day moving average price is $75.96 and its 200-day moving average price is $79.06. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $3.77 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 7.44 and a beta of 1.52. Polaris Inc. has a twelve month low of $64.56 and a twelve month high of $100.91.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. The firm’s revenue was down 23.4% on a year-over-year basis. Equities research analysts expect that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s dividend payout ratio is presently 73.74%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PII shares. Royal Bank of Canada reduced their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. DA Davidson reduced their target price on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, October 24th. KeyCorp lowered their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Robert W. Baird decreased their target price on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.09.

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.