The Manufacturers Life Insurance Company Invests $244,000 in Ubiquiti Inc. (NYSE:UI)

The Manufacturers Life Insurance Company purchased a new position in Ubiquiti Inc. (NYSE:UI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,099 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC bought a new position in Ubiquiti in the third quarter worth approximately $323,000. Algert Global LLC purchased a new stake in shares of Ubiquiti in the 3rd quarter worth $838,000. Semanteon Capital Management LP bought a new position in shares of Ubiquiti in the third quarter worth about $599,000. Marshall Wace LLP lifted its holdings in Ubiquiti by 104.4% during the second quarter. Marshall Wace LLP now owns 5,980 shares of the company’s stock valued at $871,000 after purchasing an additional 3,054 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Ubiquiti by 51.6% in the third quarter. Creative Planning now owns 4,008 shares of the company’s stock worth $889,000 after purchasing an additional 1,365 shares during the period. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 1.2 %

Ubiquiti stock opened at $349.11 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 2.54 and a debt-to-equity ratio of 2.80. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 54.04 and a beta of 1.12. The business’s 50-day moving average price is $301.77 and its 200 day moving average price is $220.31. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $366.33.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.69%. Ubiquiti’s dividend payout ratio is currently 37.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UI shares. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. BWS Financial increased their price objective on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Barclays boosted their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday, November 11th.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.