M&T Bank Corp Increases Position in Juniper Networks, Inc. (NYSE:JNPR)

M&T Bank Corp increased its stake in Juniper Networks, Inc. (NYSE:JNPRGet Rating) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,491 shares of the network equipment provider’s stock after purchasing an additional 1,320 shares during the quarter. M&T Bank Corp’s holdings in Juniper Networks were worth $486,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Illinois Municipal Retirement Fund increased its holdings in shares of Juniper Networks by 72.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 50,133 shares of the network equipment provider’s stock valued at $1,429,000 after purchasing an additional 21,097 shares in the last quarter. Convergence Investment Partners LLC increased its holdings in shares of Juniper Networks by 1.1% in the 2nd quarter. Convergence Investment Partners LLC now owns 38,051 shares of the network equipment provider’s stock valued at $1,084,000 after purchasing an additional 411 shares in the last quarter. Buckley Wealth Management LLC purchased a new position in shares of Juniper Networks in the 2nd quarter valued at about $770,000. Fifth Third Bancorp increased its holdings in shares of Juniper Networks by 7.0% in the 2nd quarter. Fifth Third Bancorp now owns 20,210 shares of the network equipment provider’s stock valued at $576,000 after purchasing an additional 1,320 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Juniper Networks by 899.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,926 shares of the network equipment provider’s stock valued at $112,000 after purchasing an additional 3,533 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on JNPR. Wells Fargo & Company increased their price objective on shares of Juniper Networks from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 26th. Piper Sandler increased their price objective on shares of Juniper Networks from $29.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, October 26th. Citigroup lowered their price objective on shares of Juniper Networks from $36.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. KeyCorp lowered their price objective on shares of Juniper Networks from $46.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Finally, Rosenblatt Securities increased their price objective on shares of Juniper Networks from $32.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, October 26th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Juniper Networks currently has an average rating of “Hold” and a consensus price target of $33.94.

Insider Buying and Selling

In related news, CEO Rami Rahim sold 6,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $29.82, for a total value of $186,375.00. Following the transaction, the chief executive officer now owns 801,235 shares in the company, valued at $23,892,827.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Rami Rahim sold 6,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $29.82, for a total value of $186,375.00. Following the transaction, the chief executive officer now owns 801,235 shares in the company, valued at $23,892,827.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Kriens sold 140,000 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $30.42, for a total transaction of $4,258,800.00. Following the completion of the transaction, the director now owns 1,860,000 shares in the company, valued at approximately $56,581,200. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,000 shares of company stock valued at $4,989,675. Insiders own 1.30% of the company’s stock.

Juniper Networks Price Performance

JNPR opened at $30.50 on Monday. The company’s 50 day simple moving average is $28.02 and its 200 day simple moving average is $28.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.42 and a current ratio of 1.69. Juniper Networks, Inc. has a 1 year low of $25.18 and a 1 year high of $38.14. The stock has a market capitalization of $9.90 billion, a PE ratio of 23.64, a P/E/G ratio of 2.50 and a beta of 0.92.

Juniper Networks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 1st will be given a $0.21 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $0.84 annualized dividend and a dividend yield of 2.75%. Juniper Networks’s dividend payout ratio is presently 65.12%.

Juniper Networks Company Profile

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Juniper Networks, Inc designs, develops, and sells network products and services worldwide. The company offers routing products, such as ACX series universal access routers to deploy high-bandwidth services; MX series Ethernet routers that function as a universal edge platform; PTX series packet transport routers; wide-area network SDN controllers; and session smart routers.

See Also

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Institutional Ownership by Quarter for Juniper Networks (NYSE:JNPR)

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