Russell Investments Group Ltd. Sells 77,297 Shares of Autoliv, Inc. $ALV

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Autoliv, Inc. by 50.9% during the first quarter, selling 77,297 shares and now owning 74,573 shares valued at approximately $6.6 million.
• The company recently increased its quarterly dividend from $0.70 to $0.85 per share, reflecting a positive change and resulting in a 2.8% yield with a payout ratio of 30.63%.
• Autoliv's latest quarterly earnings exceeded expectations, reporting $2.21 EPS and $2.71 billion in revenue, a 4.2% increase compared to the same quarter last year, while analysts predict 9.51 EPS for the current year.

Russell Investments Group Ltd. decreased its position in Autoliv, Inc. (NYSE:ALV - Free Report) by 50.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,573 shares of the auto parts company's stock after selling 77,297 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Autoliv worth $6,596,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SouthState Corp bought a new position in shares of Autoliv during the first quarter worth about $25,000. GAMMA Investing LLC boosted its position in Autoliv by 122.9% during the 1st quarter. GAMMA Investing LLC now owns 370 shares of the auto parts company's stock worth $33,000 after acquiring an additional 204 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Autoliv during the 1st quarter worth approximately $44,000. Signaturefd LLC grew its position in Autoliv by 63.4% in the first quarter. Signaturefd LLC now owns 678 shares of the auto parts company's stock valued at $60,000 after purchasing an additional 263 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in 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 buying an additional 515 shares during the last quarter. 69.57% of the stock is currently owned by institutional investors.

Autoliv Stock Performance

Shares of NYSE ALV traded up $4.1020 during midday trading on Friday, hitting $124.1820. 432,996 shares of the company's stock were exchanged, compared to its average volume of 601,312. The company has a quick ratio of 0.70, a current ratio of 0.93 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $9.54 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.39. Autoliv, Inc. has a 12 month low of $75.49 and a 12 month high of $124.82. The company's 50 day moving average price is $114.84 and its 200 day moving average price is $101.57.

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

Autoliv announced that its board has authorized a stock buyback program on Wednesday, June 4th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the auto parts company to repurchase up to 31.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Autoliv Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders 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 is a positive change from Autoliv's previous quarterly dividend of $0.70. This represents a $3.40 dividend on an annualized basis and a yield of 2.7%. Autoliv's dividend payout ratio is currently 30.63%.

Insider Buying and Selling

In other news, Director Jan Carlson sold 1,555 shares of Autoliv stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $108.32, for a total value of $168,437.60. Following the transaction, the director owned 77,493 shares in the company, valued at approximately $8,394,041.76. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ALV. UBS Group raised their price objective on Autoliv from $103.00 to $123.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Wells Fargo & Company increased their price target on Autoliv from $100.00 to $104.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Robert W. Baird lowered their price target on Autoliv from $126.00 to $124.00 and set a "neutral" rating on the stock in a research report on Monday, July 21st. Royal Bank Of Canada started coverage on Autoliv in a research note on Wednesday, June 25th. They set an "outperform" rating and a $133.00 price objective on the stock. Finally, BNP Paribas Exane raised Autoliv from a "neutral" rating to an "outperform" rating and set a $123.00 price objective for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Autoliv has an average rating of "Moderate Buy" and an average target price of $120.64.

Autoliv 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.