Principal Financial Group Inc. Raises Position in Polaris Inc. (NYSE:PII)

Principal Financial Group Inc. increased its holdings in Polaris Inc. (NYSE:PIIGet Rating) by 14.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,600 shares of the company’s stock after purchasing an additional 27,532 shares during the quarter. Principal Financial Group Inc. owned 0.37% of Polaris worth $22,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PII. Capital World Investors increased its position in shares of Polaris by 33.2% in the first quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock valued at $389,534,000 after acquiring an additional 922,101 shares during the period. River Road Asset Management LLC purchased a new position in shares of Polaris in the first quarter valued at about $88,949,000. State Street Corp increased its position in shares of Polaris by 14.8% in the first quarter. State Street Corp now owns 4,136,582 shares of the company’s stock valued at $435,665,000 after acquiring an additional 532,947 shares during the period. Royal London Asset Management Ltd. purchased a new position in shares of Polaris in the first quarter valued at about $19,887,000. Finally, First Trust Advisors LP increased its position in shares of Polaris by 39.5% in the first quarter. First Trust Advisors LP now owns 322,336 shares of the company’s stock valued at $33,948,000 after acquiring an additional 91,256 shares during the period. Hedge funds and other institutional investors own 92.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Raymond James decreased their price objective on shares of Polaris from $137.00 to $123.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 26th. DA Davidson cut their target price on shares of Polaris from $101.00 to $90.00 in a research note on Wednesday, October 26th. Citigroup lowered shares of Polaris from a “buy” rating to a “neutral” rating and cut their target price for the company from $131.00 to $101.00 in a research note on Wednesday, October 19th. Robert W. Baird cut their target price on shares of Polaris from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, October 6th. Finally, StockNews.com raised shares of Polaris from a “hold” rating to a “buy” rating in a research note on Wednesday, November 16th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $113.44.

Polaris Trading Up 0.4 %

NYSE:PII opened at $110.45 on Monday. Polaris Inc. has a one year low of $91.86 and a one year high of $127.37. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.28 and a quick ratio of 0.41. The company’s 50-day simple moving average is $102.88 and its 200 day simple moving average is $106.97. The firm has a market capitalization of $6.40 billion, a P/E ratio of 19.87 and a beta of 1.52.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, November 30th. Polaris’s payout ratio is currently 46.04%.

Polaris Profile

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Polaris Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. 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; snowmobiles and snow bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.

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Institutional Ownership by Quarter for Polaris (NYSE:PII)

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