The Manufacturers Life Insurance Company Purchases 69,844 Shares of Polaris Inc. (NYSE:PII)

The Manufacturers Life Insurance Company increased its position in shares of Polaris Inc. (NYSE:PII) by 3.2% during the 3rd quarter, Holdings Channel reports. The firm owned 2,262,990 shares of the company’s stock after acquiring an additional 69,844 shares during the period. The Manufacturers Life Insurance Company’s holdings in Polaris were worth $188,371,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its stake in 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 buying an additional 292,992 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in shares of Polaris during the second quarter worth about $15,363,000. RWWM Inc. grew its position in shares of Polaris by 192.3% during the second quarter. RWWM Inc. now owns 272,452 shares of the company’s stock worth $21,334,000 after purchasing an additional 179,244 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Polaris by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after purchasing an additional 171,366 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Polaris by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after purchasing an additional 96,194 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

PII has been the subject of a number of research analyst reports. KeyCorp cut their price objective on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada cut their target price 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. DA Davidson decreased their price target on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, Robert W. Baird dropped their price objective on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Polaris currently has an average rating of “Hold” and a consensus price target of $87.09.

Polaris Stock Down 5.2 %

Shares of NYSE PII opened at $67.51 on Wednesday. Polaris Inc. has a 1 year low of $64.56 and a 1 year high of $100.91. The firm has a 50-day simple moving average of $75.96 and a two-hundred day simple moving average of $79.06. The company has a market cap of $3.77 billion, a P/E ratio of 18.86, a PEG ratio of 7.44 and a beta of 1.52. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

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

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is 73.74%.

About Polaris

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.