Principal Financial Group Inc. Boosts Stake in Polaris Inc. (NYSE:PII)

Principal Financial Group Inc. raised its position in Polaris Inc. (NYSE:PII) by 0.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,572 shares of the company’s stock after buying an additional 423 shares during the period. Principal Financial Group Inc. owned about 0.21% of Polaris worth $4,936,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Twin Tree Management LP purchased a new stake in shares of Polaris during the 4th quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in shares of Polaris by 114.1% in the 1st quarter. UMB Bank n.a. now owns 805 shares of the company’s stock valued at $33,000 after buying an additional 429 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Polaris during the 1st quarter worth $35,000. Fifth Third Bancorp lifted its stake in shares of Polaris by 46.9% in the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company’s stock worth $41,000 after acquiring an additional 318 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Polaris by 191.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company’s stock valued at $50,000 after purchasing an additional 797 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Roth Capital reiterated a “neutral” rating on shares of Polaris in a report on Tuesday, April 22nd. Royal Bank Of Canada cut their price target on shares of Polaris from $54.00 to $34.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 30th. Baird R W lowered shares of Polaris from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Truist Financial decreased their target price on shares of Polaris from $55.00 to $30.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird upped their price objective on shares of Polaris from $38.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.00.

Polaris Stock Performance

Shares of PII stock opened at $47.00 on Friday. The business’s 50-day moving average price is $41.80 and its 200-day moving average price is $43.16. Polaris Inc. has a 12 month low of $30.92 and a 12 month high of $88.00. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 65.28 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 (NYSE:PII) last issued its earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.01. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Polaris had a return on equity of 9.26% and a net margin of 0.58%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. Equities research analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.67 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.70%. Polaris’s dividend payout ratio is presently 372.22%.

Polaris Company 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.