State Treasurer State of Michigan decreased its holdings in Juniper Networks, Inc. (NYSE:JNPR) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,896 shares of the network equipment provider’s stock after selling 5,500 shares during the period. State Treasurer State of Michigan’s holdings in Juniper Networks were worth $3,132,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. Engineers Gate Manager LP increased its stake in shares of Juniper Networks by 42.9% during the fourth quarter. Engineers Gate Manager LP now owns 186,486 shares of the network equipment provider’s stock worth $5,315,000 after purchasing an additional 55,993 shares during the period. Highstreet Asset Management Inc. increased its stake in shares of Juniper Networks by 79.6% during the fourth quarter. Highstreet Asset Management Inc. now owns 22,132 shares of the network equipment provider’s stock worth $631,000 after purchasing an additional 9,810 shares during the period. Sumitomo Life Insurance Co. increased its stake in shares of Juniper Networks by 56.6% during the fourth quarter. Sumitomo Life Insurance Co. now owns 55,503 shares of the network equipment provider’s stock worth $1,582,000 after purchasing an additional 20,060 shares during the period. LSV Asset Management increased its stake in shares of Juniper Networks by 3.7% during the fourth quarter. LSV Asset Management now owns 6,804,243 shares of the network equipment provider’s stock worth $193,920,000 after purchasing an additional 242,600 shares during the period. Finally, Dean Capital Investments Management LLC bought a new position in shares of Juniper Networks during the fourth quarter worth approximately $988,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.
Shares of Juniper Networks, Inc. (JNPR) opened at $25.44 on Friday. The firm has a market capitalization of $9,245.73, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 2.86 and a beta of 0.89. Juniper Networks, Inc. has a twelve month low of $23.87 and a twelve month high of $30.96. The company has a quick ratio of 2.70, a current ratio of 2.41 and a debt-to-equity ratio of 0.46.
Juniper Networks announced that its board has authorized a stock buyback plan on Tuesday, January 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, February 28th. This is an increase from Juniper Networks’s previous quarterly dividend of $0.10. Juniper Networks’s dividend payout ratio (DPR) is currently 49.38%.
In other Juniper Networks news, CEO Rami Rahim sold 16,100 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $26.24, for a total value of $422,464.00. Following the sale, the chief executive officer now owns 469,607 shares of the company’s stock, valued at approximately $12,322,487.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.
JNPR has been the topic of a number of recent research reports. Citigroup lowered their target price on Juniper Networks from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th. Bank of America lowered their target price on Juniper Networks from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 18th. Stifel Nicolaus began coverage on Juniper Networks in a research note on Thursday, December 14th. They set a “hold” rating and a $28.00 target price on the stock. OTR Global downgraded Juniper Networks to a “positive” rating in a research report on Friday, October 13th. Finally, Deutsche Bank reissued a “sell” rating and set a $20.00 price target on shares of Juniper Networks in a research report on Friday, January 5th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have issued a buy rating to the stock. Juniper Networks currently has a consensus rating of “Hold” and a consensus price target of $28.69.
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Juniper Networks Company Profile
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, the Middle East and Africa, and Asia Pacific.
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