Algert Global LLC Buys 16,590 Shares of Autoliv, Inc. $ALV

Key Points

• Algert Global LLC increased its holdings in Autoliv, Inc. by 45.7% during the first quarter, now owning approximately 52,907 shares valued at $4.68 million.
• Several institutional investors significantly boosted their stakes in Autoliv, with Charles Schwab Investment Management Inc. increasing its position by 418.3%, now owning $219.7 million in shares.
• Autoliv announced a quarterly dividend increase from $0.70 to $0.85 per share, with an annualized yield of 2.9%, and plans for a $2.50 billion share buyback program.

Algert Global LLC raised its stake in shares of Autoliv, Inc. (NYSE:ALV - Free Report) by 45.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,907 shares of the auto parts company's stock after buying an additional 16,590 shares during the quarter. Algert Global LLC owned about 0.07% of Autoliv worth $4,680,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. SouthState Corp acquired a new position in shares of Autoliv in the 1st quarter valued at approximately $25,000. GAMMA Investing LLC grew its position in shares of Autoliv by 122.9% in the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock valued at $33,000 after purchasing an additional 204 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Autoliv in the 1st quarter valued at approximately $44,000. Signaturefd LLC grew its position in shares of Autoliv by 63.4% in the 1st quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after purchasing an additional 263 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Autoliv by 188.6% in the 1st quarter. UMB Bank n.a. now owns 788 shares of the auto parts company's stock valued at $70,000 after purchasing an additional 515 shares during the period. 69.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jan Carlson sold 1,555 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $108.32, for a total transaction of $168,437.60. Following the sale, the director 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 document filed with the SEC, which is available at this link. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALV shares. BNP Paribas Exane upgraded Autoliv from a "neutral" rating to an "outperform" rating and set a $123.00 price objective for the company in a research report on Friday, May 9th. UBS Group boosted their price objective on Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. BNP Paribas upgraded Autoliv from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 9th. Robert W. Baird decreased their price objective on Autoliv from $126.00 to $124.00 and set a "neutral" rating for the company in a research report on Monday, July 21st. Finally, Barclays reiterated an "overweight" rating and issued a $135.00 price objective (up from $105.00) on shares of Autoliv in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Autoliv has a consensus rating of "Moderate Buy" and a consensus target price of $120.64.

Autoliv Stock Up 3.4%

NYSE ALV traded up $4.1020 during trading on Friday, hitting $124.1820. The stock had a trading volume of 432,996 shares, compared to its average volume of 592,431. The company has a market capitalization of $9.54 billion, a PE ratio of 13.59, a P/E/G ratio of 1.29 and a beta of 1.39. The company's 50-day moving average price is $114.84 and its two-hundred day moving average price is $101.62. 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 12 month low of $75.49 and a 12 month high of $124.82.

Autoliv (NYSE:ALV - Get Free Report) last released its earnings results on Friday, July 18th. The auto parts company reported $2.21 EPS for the quarter, beating the consensus estimate 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 return on equity of 30.73% and a net margin of 6.83%.The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 EPS. As a group, sell-side analysts forecast that Autoliv, Inc. will post 9.51 EPS for the current year.

Autoliv announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 4th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 31.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Autoliv Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date is Friday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from Autoliv's previous quarterly dividend of $0.70. Autoliv's dividend payout ratio (DPR) is currently 30.63%.

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.