Assenagon Asset Management S.A. Increases Position in Autoliv Inc. (ALV)

Assenagon Asset Management S.A. increased its holdings in Autoliv Inc. (NYSE:ALV) by 90.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,582 shares of the auto parts company’s stock after purchasing an additional 14,014 shares during the period. Assenagon Asset Management S.A.’s holdings in Autoliv were worth $2,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ALV. BlackRock Inc. increased its position in Autoliv by 6.7% in the second quarter. BlackRock Inc. now owns 2,958,591 shares of the auto parts company’s stock worth $423,729,000 after purchasing an additional 186,407 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Autoliv by 257.8% in the second quarter. Canada Pension Plan Investment Board now owns 86,389 shares of the auto parts company’s stock worth $12,373,000 after purchasing an additional 62,247 shares during the last quarter. Schroder Investment Management Group increased its position in Autoliv by 64.3% in the second quarter. Schroder Investment Management Group now owns 157,097 shares of the auto parts company’s stock worth $22,312,000 after purchasing an additional 61,452 shares during the last quarter. Northern Trust Corp increased its position in Autoliv by 12.5% in the second quarter. Northern Trust Corp now owns 404,199 shares of the auto parts company’s stock worth $57,889,000 after purchasing an additional 44,969 shares during the last quarter. Finally, Royal London Asset Management Ltd. bought a new stake in Autoliv in the second quarter worth $5,471,000. Institutional investors own 40.18% of the company’s stock.

ALV has been the topic of several research reports. Zacks Investment Research cut shares of Autoliv from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Daiwa Capital Markets upgraded shares of Autoliv from a “neutral” rating to an “outperform” rating and set a $118.00 price target on the stock in a research report on Monday, July 16th. Longbow Research lowered shares of Autoliv from a “buy” rating to a “neutral” rating in a research note on Thursday, November 1st. BNP Paribas raised shares of Autoliv from an “underperform” rating to an “outperform” rating in a research note on Wednesday, July 11th. Finally, Barclays dropped their price objective on shares of Autoliv from $72.00 to $70.00 and set a “sell” rating for the company in a research note on Tuesday, October 30th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Autoliv presently has a consensus rating of “Hold” and a consensus target price of $112.00.

In other news, Director Jan Carlson sold 42,589 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $89.53, for a total transaction of $3,812,993.17. Following the completion of the sale, the director now directly owns 53,579 shares of the company’s stock, valued at $4,796,927.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

NYSE ALV opened at $85.87 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.82. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.71 and a beta of 1.17. Autoliv Inc. has a 52 week low of $75.99 and a 52 week high of $115.37.

Autoliv (NYSE:ALV) last posted its quarterly earnings data on Friday, October 26th. The auto parts company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.23). The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Autoliv had a return on equity of 20.06% and a net margin of 3.52%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.64 earnings per share. Analysts predict that Autoliv Inc. will post 7.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Wednesday, November 21st will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Tuesday, November 20th. Autoliv’s dividend payout ratio is currently 37.69%.

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Autoliv Profile

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies automotive safety systems to the automotive industry worldwide. The company operates through two segments, Passive Safety and Electronics. It offers modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, battery cable cutters, pedestrian protection systems, and child seats.

Further Reading: Why do company’s buyback their stock?

Institutional Ownership by Quarter for Autoliv (NYSE:ALV)

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