The Manufacturers Life Insurance Company Purchases 21,087 Shares of Polaris Inc. (NYSE:PII)

The Manufacturers Life Insurance Company lifted its position in Polaris Inc. (NYSE:PII - Free Report) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,284,077 shares of the company's stock after purchasing an additional 21,087 shares during the quarter. The Manufacturers Life Insurance Company owned 4.10% of Polaris worth $131,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in Polaris by 74.0% during the fourth quarter. Quantbot Technologies LP now owns 35,944 shares of the company's stock worth $2,071,000 after acquiring an additional 15,283 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Polaris by 14.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 116,302 shares of the company's stock valued at $6,701,000 after buying an additional 14,790 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Polaris during the fourth quarter worth about $21,776,000. State of Alaska Department of Revenue increased its holdings in shares of Polaris by 371.7% during the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company's stock worth $1,669,000 after buying an additional 22,835 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Polaris in the 4th quarter worth approximately $611,000. 88.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PII has been the topic of several research analyst reports. UBS Group decreased their target price on Polaris from $67.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada reduced 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 report on Wednesday. KeyCorp lowered shares of Polaris from an "overweight" rating to a "sector weight" rating in a report on Wednesday, January 8th. DA Davidson reduced their price objective on Polaris from $69.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Finally, Citigroup cut Polaris from a "neutral" rating to a "sell" rating and lowered their target price for the company from $49.00 to $33.00 in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned 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 $45.36.

Polaris Trading Up 0.3 %

NYSE PII traded up $0.09 on Friday, reaching $34.81. The company had a trading volume of 1,130,655 shares, compared to its average volume of 1,118,098. Polaris Inc. has a 52 week low of $30.92 and a 52 week high of $90.62. The stock's 50 day moving average is $38.88 and its 200-day moving average is $52.82. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 13.95 and a beta of 1.32.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.01. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.53 billion. Polaris had a net margin of 1.54% and a return on equity of 13.78%. The firm's revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities analysts predict that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.67 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 7.70%. Polaris's payout ratio is 372.22%.

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.