5,538 Shares in Autoliv, Inc. $ALV Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 5,538 shares of Autoliv, Inc. valued at approximately $620,000 in the second quarter, indicating growing interest in the auto parts company.
• Analyst ratings for Autoliv have varied, with Barclays upgrading its target price significantly from $105.00 to $135.00 while maintaining an "overweight" rating.
• Autoliv recently announced a $2.50 billion stock buyback plan, which typically suggests that the company's leadership believes its shares are undervalued.

Assenagon Asset Management S.A. acquired a new position in Autoliv, Inc. (NYSE:ALV - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,538 shares of the auto parts company's stock, valued at approximately $620,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortem Financial Group LLC boosted its stake in Autoliv by 2.3% in the 1st quarter. Fortem Financial Group LLC now owns 6,909 shares of the auto parts company's stock worth $611,000 after purchasing an additional 156 shares during the period. Greenleaf Trust lifted its position in Autoliv by 2.8% in the 1st quarter. Greenleaf Trust now owns 6,338 shares of the auto parts company's stock worth $561,000 after buying an additional 172 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Autoliv by 3.6% during the 1st quarter. Cetera Investment Advisers now owns 5,229 shares of the auto parts company's stock valued at $462,000 after purchasing an additional 183 shares in the last quarter. Keeley Teton Advisors LLC raised its holdings in shares of Autoliv by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 17,530 shares of the auto parts company's stock valued at $1,551,000 after purchasing an additional 183 shares in the last quarter. Finally, CWM LLC grew its stake in Autoliv by 22.1% in the 1st quarter. CWM LLC now owns 1,027 shares of the auto parts company's stock valued at $91,000 after buying an additional 186 shares during the last quarter. Institutional investors and hedge funds own 69.57% of the company's stock.

Analyst Ratings Changes

ALV has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a research report on Monday, July 21st. Barclays reiterated an "overweight" rating and set a $135.00 target price (up from $105.00) on shares of Autoliv in a research report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on shares of Autoliv from $126.00 to $132.00 and gave the company an "equal weight" rating in a research report on Thursday. Wall Street Zen raised shares of Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Finally, Mizuho boosted their target price on shares of Autoliv from $130.00 to $140.00 and gave the stock an "outperform" rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Autoliv currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.75.

Autoliv Stock Up 1.7%

Shares of NYSE ALV opened at $125.28 on Friday. The stock has a market cap of $9.62 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.30 and a beta of 1.35. The firm has a 50 day moving average price of $120.42 and a 200 day moving average price of $106.64. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.93. Autoliv, Inc. has a 52-week low of $75.49 and a 52-week high of $127.89.

Autoliv (NYSE:ALV - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The auto parts company reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.07 by $0.14. The firm had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.57 billion. Autoliv had a net margin of 6.83% and a return on equity of 30.73%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.87 earnings per share. Analysts expect that Autoliv, Inc. will post 9.51 EPS for the current year.

Autoliv declared that its board has authorized a stock buyback plan on Wednesday, June 4th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the auto parts company to buy up to 31.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Autoliv Company Profile

Autoliv, Inc, through its subsidiaries, develops, manufactures, and supplies passive safety systems to the automotive industry in Europe, the Americas, China, Japan, and rest of Asia. It offers passive safety systems, including modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, and inflator technologies.

Want to see what other hedge funds are holding ALV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Autoliv, Inc. (NYSE:ALV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.