Cincinnati Insurance Co. Holds Position in Polaris Industries Inc. (PII)
Cincinnati Insurance Co. held its stake in shares of Polaris Industries Inc. (NYSE:PII) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the company’s stock at the end of the second quarter. Cincinnati Insurance Co. owned 0.20% of Polaris Industries worth $11,529,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Polaris Industries by 3,542.9% in the first quarter. BlackRock Inc. now owns 5,359,600 shares of the company’s stock worth $449,135,000 after buying an additional 5,212,474 shares in the last quarter. Kiltearn Partners LLP raised its stake in shares of Polaris Industries by 356.1% in the first quarter. Kiltearn Partners LLP now owns 1,741,176 shares of the company’s stock worth $145,911,000 after buying an additional 1,359,430 shares in the last quarter. Cincinnati Financial Corp raised its stake in shares of Polaris Industries by 3,020.0% in the first quarter. Cincinnati Financial Corp now owns 780,000 shares of the company’s stock worth $65,364,000 after buying an additional 755,000 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Polaris Industries by 36.6% in the first quarter. Janus Capital Management LLC now owns 2,344,287 shares of the company’s stock worth $196,447,000 after buying an additional 627,535 shares in the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of Polaris Industries by 51.5% in the second quarter. Confluence Investment Management LLC now owns 1,106,651 shares of the company’s stock worth $102,066,000 after buying an additional 376,083 shares in the last quarter. 95.12% of the stock is owned by institutional investors and hedge funds.
Polaris Industries Inc. (PII) opened at 94.60 on Monday. The company has a market capitalization of $5.92 billion, a PE ratio of 39.57 and a beta of 1.31. Polaris Industries Inc. has a 12 month low of $70.14 and a 12 month high of $99.16. The stock’s 50 day moving average is $90.64 and its 200-day moving average is $87.30.
Polaris Industries (NYSE:PII) last posted its earnings results on Thursday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Polaris Industries had a net margin of 3.13% and a return on equity of 26.47%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, analysts expect that Polaris Industries Inc. will post $4.48 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, August 30th. Polaris Industries’s dividend payout ratio is currently 97.07%.
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A number of analysts recently weighed in on PII shares. BidaskClub lowered shares of Polaris Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Wedbush reissued a “neutral” rating and issued a $75.00 price target on shares of Polaris Industries in a report on Tuesday, June 6th. Zacks Investment Research raised shares of Polaris Industries from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BMO Capital Markets reissued a “buy” rating and issued a $100.00 price target on shares of Polaris Industries in a report on Monday, June 5th. Finally, TheStreet raised shares of Polaris Industries from a “c” rating to a “b-” rating in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $88.13.
In related news, CEO Scott W. Wine bought 1,293 shares of the stock in a transaction on Friday, August 18th. The shares were acquired at an average price of $88.81 per share, for a total transaction of $114,831.33. Following the purchase, the chief executive officer now owns 317,000 shares of the company’s stock, valued at $28,152,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by corporate insiders.
About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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