The Manufacturers Life Insurance Company Has $246.87 Million Stake in Intuit Inc. (NASDAQ:INTU)

The Manufacturers Life Insurance Company raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 50.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,542 shares of the software maker’s stock after acquiring an additional 132,687 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.14% of Intuit worth $246,872,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC increased its position in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co increased its position in Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after acquiring an additional 16 shares during the period. Gemmer Asset Management LLC raised its stake in Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares during the last quarter. Truvestments Capital LLC boosted its holdings in Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the period. Finally, PFG Investments LLC grew its position in Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Down 0.9 %

Shares of NASDAQ INTU opened at $634.62 on Tuesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market capitalization of $177.77 billion, a P/E ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $634.58 and its 200 day simple moving average is $631.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s payout ratio is currently 40.39%.

Analyst Ratings Changes

INTU has been the subject of a number of research analyst reports. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday. Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday. Finally, Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. This represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock valued at $35,200,125 in the last ninety days. 2.90% of the stock is owned by insiders.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.