United Services Automobile Association Invests $305,000 in Magna International Inc. $MGA

Key Points

• United Services Automobile Association acquired 8,968 shares of Magna International, valuing the stake at approximately $305,000.
• Magna International reported $1.44 earnings per share for the last quarter, exceeding expectations and showing a net margin of 2.91%.
• The company announced a quarterly dividend of $0.485 per share, resulting in an annualized dividend yield of 4.2%.

United Services Automobile Association purchased a new stake in shares of Magna International Inc. (NYSE:MGA - Free Report) TSE: MG in the first quarter, according to its most recent filing with the SEC. The firm purchased 8,968 shares of the company's stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MGA. Versant Capital Management Inc purchased a new stake in Magna International in the 1st quarter worth approximately $27,000. Cromwell Holdings LLC grew its stake in shares of Magna International by 131.6% during the 1st quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after buying an additional 466 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Magna International by 507.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,500 shares of the company's stock worth $51,000 after purchasing an additional 1,253 shares during the period. Atlas Capital Advisors Inc. purchased a new stake in Magna International during the 1st quarter worth $99,000. Finally, Integrated Wealth Concepts LLC boosted its position in Magna International by 19.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,808 shares of the company's stock worth $231,000 after purchasing an additional 1,123 shares during the period. 67.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MGA has been the topic of a number of recent analyst reports. CIBC reiterated a "neutral" rating and issued a $47.00 price objective (up previously from $46.00) on shares of Magna International in a report on Tuesday, August 26th. Bank of America boosted their price objective on shares of Magna International from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Evercore ISI upped their target price on shares of Magna International from $37.00 to $40.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. Cfra Research upgraded shares of Magna International to a "hold" rating in a report on Monday, August 4th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $45.00 price objective on shares of Magna International in a report on Friday, September 12th. Three research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Magna International currently has an average rating of "Hold" and a consensus target price of $43.50.

Magna International Stock Up 1.2%

Shares of MGA traded up $0.57 during mid-day trading on Thursday, hitting $47.32. 1,043,898 shares of the company's stock were exchanged, compared to its average volume of 1,464,206. The firm has a fifty day moving average of $44.05 and a two-hundred day moving average of $38.77. Magna International Inc. has a twelve month low of $30.39 and a twelve month high of $47.54. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.04 and a beta of 1.53. The company has a quick ratio of 0.82, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, August 1st. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.19 by $0.25. Magna International had a net margin of 2.91% and a return on equity of 11.89%. The company had revenue of $10.82 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same quarter in the prior year, the business posted $1.35 EPS. Magna International's quarterly revenue was down 3.0% on a year-over-year basis. Magna International has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 15th. Magna International's dividend payout ratio (DPR) is presently 45.54%.

Magna International Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.