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

Principal Financial Group Inc. raised its holdings in shares of Polaris Inc. (NYSE:PIIGet Rating) by 14.2% in the second quarter, Holdings Channel reports. The institutional investor owned 221,600 shares of the company’s stock after acquiring an additional 27,532 shares during the period. Principal Financial Group Inc.’s holdings in Polaris were worth $22,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PII. Capital World Investors increased its stake 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 worth $389,534,000 after purchasing an additional 922,101 shares in the last quarter. River Road Asset Management LLC purchased a new stake in shares of Polaris in the first quarter worth $88,949,000. State Street Corp increased its stake 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 worth $435,665,000 after purchasing an additional 532,947 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Polaris in the first quarter worth $19,887,000. Finally, First Trust Advisors LP increased its stake 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 worth $33,948,000 after purchasing an additional 91,256 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.

Polaris Price Performance

PII stock opened at $110.45 on Monday. Polaris Inc. has a 52 week low of $91.86 and a 52 week high of $127.37. The company has a quick ratio of 0.41, a current ratio of 1.28 and a debt-to-equity ratio of 1.55. The company has a fifty day simple moving average of $102.88 and a two-hundred day simple moving average of $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. Shareholders of record on Thursday, December 1st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.56 annualized dividend and a yield of 2.32%. Polaris’s dividend payout ratio (DPR) is currently 46.04%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James reduced their price objective on shares of Polaris from $137.00 to $123.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 26th. StockNews.com upgraded shares of Polaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 16th. Truist Financial dropped their target price on shares of Polaris from $115.00 to $105.00 and set a “hold” rating for the company in a research report on Wednesday, October 5th. BMO Capital Markets dropped their target price on shares of Polaris from $138.00 to $120.00 in a research report on Wednesday, October 26th. Finally, Robert W. Baird dropped their target price on shares of Polaris from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, October 6th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.44.

About Polaris

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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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