Principal Financial Group Inc. increased its stake in Autoliv Inc. (NYSE:ALV) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,761 shares of the company’s stock after buying an additional 5,128 shares during the period. Principal Financial Group Inc. owned 0.14% of Autoliv worth $12,868,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PGGM Investments bought a new position in Autoliv during the second quarter valued at approximately $28,315,000. Ameriprise Financial Inc. raised its position in Autoliv by 34.7% in the second quarter. Ameriprise Financial Inc. now owns 802,236 shares of the company’s stock valued at $86,217,000 after buying an additional 206,460 shares in the last quarter. State Street Corp raised its position in Autoliv by 10.4% in the first quarter. State Street Corp now owns 864,427 shares of the company’s stock valued at $102,415,000 after buying an additional 81,460 shares in the last quarter. Wellington Management Group LLP raised its position in Autoliv by 7.9% in the first quarter. Wellington Management Group LLP now owns 607,906 shares of the company’s stock valued at $72,025,000 after buying an additional 44,600 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Autoliv by 278.3% in the second quarter. JPMorgan Chase & Co. now owns 54,587 shares of the company’s stock valued at $5,865,000 after buying an additional 40,158 shares in the last quarter. Institutional investors own 33.07% of the company’s stock.
Shares of Autoliv Inc. (NYSE:ALV) opened at 104.63 on Tuesday. The stock has a market capitalization of $9.23 billion, a price-to-earnings ratio of 16.32 and a beta of 1.29. Autoliv Inc. has a one year low of $95.34 and a one year high of $129.37. The stock’s 50 day moving average is $105.93 and its 200-day moving average is $112.57.
Autoliv (NYSE:ALV) last posted its quarterly earnings data on Friday, July 22nd. The company reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.04. The firm earned $2.58 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Autoliv had a net margin of 5.83% and a return on equity of 16.97%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. On average, equities research analysts predict that Autoliv Inc. will post $6.66 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Wednesday, November 16th will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $2.32 annualized dividend and a yield of 2.22%. Autoliv’s dividend payout ratio is presently 36.19%.
ALV has been the subject of several recent analyst reports. Zacks Investment Research lowered Autoliv from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 27th. Citigroup Inc. dropped their target price on Autoliv from $121.00 to $113.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Berenberg Bank initiated coverage on Autoliv in a research report on Friday, June 17th. They set a “hold” rating and a $109.00 target price for the company. RBC Capital Markets restated an “underperform” rating and set a $92.00 target price (down previously from $95.00) on shares of Autoliv in a research report on Monday, July 25th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of Autoliv in a research report on Tuesday, July 26th. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Autoliv currently has a consensus rating of “Hold” and an average target price of C$101.39.
Autoliv Company Profile
Autoliv, Inc is a developer, manufacturer and supplier to the automotive industry of automotive safety systems. The Company operates through two segments: Passive Safety and Electronics. Passive Safety segment includes airbags, seatbelts and steering wheels. Electronics segment includes active safety products, such as camera-based vision systems, night driving assist, automotive radars, brake controls and other active safety systems, and passive safety electronic products, such as restraint electronics and crash sensors.
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