AE Wealth Management LLC Invests $277,000 in Autoliv, Inc. (NYSE:ALV)

Key Points

• AE Wealth Management LLC acquired a new stake of 3,128 shares in Autoliv, Inc., valued at approximately $277,000, during the first quarter.
• Autoliv's Board of Directors has initiated a $2.50 billion share buyback program, allowing for the repurchase of up to 31.3% of its stock, indicating management's belief in the stock's undervaluation.
• The company will increase its quarterly dividend to $0.85 per share, up from $0.70, with a record date of September 5, reflecting a 3.1% annual yield.

AE Wealth Management LLC bought a new stake in shares of Autoliv, Inc. (NYSE:ALV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,128 shares of the auto parts company's stock, valued at approximately $277,000.

Several other hedge funds also recently bought and sold shares of the company. Sei Investments Co. increased its stake in Autoliv by 8.8% in the 4th quarter. Sei Investments Co. now owns 45,440 shares of the auto parts company's stock worth $4,262,000 after buying an additional 3,668 shares in the last quarter. LPL Financial LLC increased its stake in Autoliv by 2.0% in the 4th quarter. LPL Financial LLC now owns 9,655 shares of the auto parts company's stock worth $906,000 after buying an additional 192 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Autoliv in the 4th quarter valued at $246,000. Norges Bank bought a new stake in Autoliv in the 4th quarter valued at $36,761,000. Finally, Pictet Asset Management Holding SA increased its holdings in Autoliv by 6.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,482 shares of the auto parts company's stock valued at $983,000 after acquiring an additional 660 shares during the last quarter. Institutional investors own 69.57% of the company's stock.

Autoliv Trading Down 1.2%

NYSE:ALV traded down $1.29 during mid-day trading on Friday, hitting $110.26. 661,333 shares of the stock traded hands, compared to its average volume of 835,791. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 1.16 and a beta of 1.39. Autoliv, Inc. has a 52 week low of $75.49 and a 52 week high of $118.98. The firm's 50 day moving average is $111.37 and its two-hundred day moving average is $99.70. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 0.55.

Autoliv (NYSE:ALV - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The auto parts company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.14. The firm had revenue of $2.71 billion for 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 period in the prior year, the business posted $1.87 earnings per share. On average, equities research analysts predict that Autoliv, Inc. will post 9.51 earnings per share for the current year.

Autoliv Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Friday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 3.1%. This is an increase from Autoliv's previous quarterly dividend of $0.70. Autoliv's payout ratio is currently 37.20%.

Autoliv declared that its Board of Directors has approved a share buyback program on Wednesday, June 4th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to repurchase up to 31.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on ALV shares. Wells Fargo & Company lifted their price target on shares of Autoliv from $100.00 to $104.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. BNP Paribas Exane upgraded shares of Autoliv from a "neutral" rating to an "outperform" rating and set a $123.00 price target on the stock in a report on Friday, May 9th. UBS Group lifted their price target on shares of Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Royal Bank Of Canada started coverage on shares of Autoliv in a report on Wednesday, June 25th. They issued an "outperform" rating and a $133.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Autoliv from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Autoliv has an average rating of "Moderate Buy" and a consensus price target of $120.64.

Insider Buying and Selling

In other Autoliv news, Director Jan Carlson sold 1,555 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $108.32, for a total value of $168,437.60. Following the transaction, the director directly owned 77,493 shares in the company, valued at $8,394,041.76. This represents a 1.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

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.