Assenagon Asset Management S.A. Buys 46,605 Shares of Visteon Corporation $VC

Key Points

• Assenagon Asset Management S.A. increased its stake in Visteon Corporation by 33.2%, acquiring an additional 46,605 shares to reach a total of 186,872 shares worth approximately $17.4 million.
• Several institutional investors have also boosted their stakes in Visteon, with 99.71% of the company's stock now owned by hedge funds and other institutional investors.
• Visteon recently declared a quarterly dividend of $0.275 per share, which represents a 0.9% dividend yield and a payout ratio of 10.49%.

Assenagon Asset Management S.A. raised its stake in shares of Visteon Corporation (NASDAQ:VC - Free Report) by 33.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,872 shares of the company's stock after purchasing an additional 46,605 shares during the period. Assenagon Asset Management S.A. owned 0.69% of Visteon worth $17,435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Covestor Ltd grew its stake in shares of Visteon by 9.9% in the 1st quarter. Covestor Ltd now owns 2,531 shares of the company's stock worth $196,000 after buying an additional 227 shares in the last quarter. Signaturefd LLC grew its stake in shares of Visteon by 33.5% in the 1st quarter. Signaturefd LLC now owns 913 shares of the company's stock worth $71,000 after buying an additional 229 shares in the last quarter. US Bancorp DE grew its stake in shares of Visteon by 3.0% in the 1st quarter. US Bancorp DE now owns 8,111 shares of the company's stock worth $630,000 after buying an additional 239 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Visteon by 9.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,199 shares of the company's stock worth $248,000 after buying an additional 265 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Visteon by 286.7% in the 1st quarter. UMB Bank n.a. now owns 437 shares of the company's stock worth $34,000 after buying an additional 324 shares in the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visteon

In related news, Director Francis M. Scricco sold 4,350 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $120.53, for a total value of $524,305.50. Following the completion of the transaction, the director directly owned 2,792 shares of the company's stock, valued at $336,519.76. This trade represents a 60.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joao Paulo Ribeiro sold 710 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $115.09, for a total transaction of $81,713.90. Following the completion of the transaction, the senior vice president directly owned 6,698 shares of the company's stock, valued at $770,872.82. The trade was a 9.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,102 shares of company stock valued at $1,538,595. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group restated a "buy" rating and issued a $146.00 target price (up previously from $142.00) on shares of Visteon in a report on Friday, July 25th. Wall Street Zen lowered shares of Visteon from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Wells Fargo & Company raised their target price on shares of Visteon from $129.00 to $145.00 and gave the stock an "overweight" rating in a report on Tuesday, September 9th. Wolfe Research upgraded shares of Visteon from a "peer perform" rating to an "outperform" rating and set a $123.00 target price for the company in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Visteon from $120.00 to $131.00 and gave the stock a "buy" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Visteon presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.54.

Visteon Stock Down 0.3%

Shares of Visteon stock opened at $124.52 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.87 and a quick ratio of 1.55. Visteon Corporation has a 1 year low of $65.10 and a 1 year high of $129.10. The firm's 50-day moving average is $119.46 and its two-hundred day moving average is $96.65. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 2.86 and a beta of 1.25.

Visteon (NASDAQ:VC - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.35. The company had revenue of $969.00 million for the quarter, compared to analysts' expectations of $943.12 million. Visteon had a net margin of 7.61% and a return on equity of 23.22%. The firm's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 EPS. Visteon has set its FY 2025 guidance at EPS. As a group, research analysts expect that Visteon Corporation will post 8.42 earnings per share for the current fiscal year.

Visteon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 18th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 18th. Visteon's dividend payout ratio is presently 10.49%.

About Visteon

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.

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