Allianz Asset Management GmbH Buys 129,112 Shares of Polaris Inc. (NYSE:PII)

Allianz Asset Management GmbH raised its stake in Polaris Inc. (NYSE:PII - Free Report) by 236.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,689 shares of the company's stock after purchasing an additional 129,112 shares during the period. Allianz Asset Management GmbH owned approximately 0.33% of Polaris worth $7,520,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PII. RWWM Inc. lifted its stake in shares of Polaris by 169.2% in the first quarter. RWWM Inc. now owns 2,395,049 shares of the company's stock valued at $98,053,000 after buying an additional 1,505,351 shares during the period. Norges Bank bought a new stake in shares of Polaris in the 4th quarter worth approximately $24,659,000. Capital World Investors lifted its position in shares of Polaris by 6.7% in the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company's stock worth $354,725,000 after acquiring an additional 388,050 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Polaris during the fourth quarter valued at approximately $21,776,000. Finally, GAMMA Investing LLC increased its position in shares of Polaris by 25,682.0% during the first quarter. GAMMA Investing LLC now owns 249,570 shares of the company's stock valued at $10,217,000 after purchasing an additional 248,602 shares during the period. 88.06% of the stock is owned by institutional investors.

Polaris Stock Performance

NYSE:PII opened at $50.22 on Monday. The stock has a market capitalization of $2.82 billion, a P/E ratio of 69.75 and a beta of 1.05. The company has a current ratio of 1.12, a quick ratio of 0.37 and a debt-to-equity ratio of 1.32. Polaris Inc. has a 1 year low of $30.92 and a 1 year high of $87.83. The firm has a 50 day moving average of $43.20 and a 200-day moving average of $42.66.

Polaris (NYSE:PII - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, beating analysts' consensus estimates of ($0.91) by $0.01. The firm had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.53 billion. Polaris had a return on equity of 9.26% and a net margin of 0.58%. The business's revenue was down 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. As a group, sell-side analysts anticipate that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a $0.67 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.34%. Polaris's dividend payout ratio is 372.22%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup reaffirmed a "sell" rating and issued a $27.00 target price (up from $23.00) on shares of Polaris in a research report on Monday, June 16th. Wall Street Zen downgraded shares of Polaris from a "hold" rating to a "sell" rating in a report on Thursday, May 8th. Morgan Stanley decreased their target price on shares of Polaris from $31.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada lowered their target price on shares of Polaris from $54.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Truist Financial decreased their price objective on Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $45.58.

Polaris 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.

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