Principal Financial Group Inc. Sells 73,072 Shares of Autoliv, Inc. (NYSE:ALV)

Principal Financial Group Inc. trimmed its position in Autoliv, Inc. (NYSE:ALV) by 25.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 209,028 shares of the auto parts company’s stock after selling 73,072 shares during the quarter. Principal Financial Group Inc.’s holdings in Autoliv were worth $19,517,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALV. Quarry LP increased its holdings in shares of Autoliv by 133.5% in the second quarter. Quarry LP now owns 362 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 207 shares during the last quarter. Fred Alger Management LLC acquired a new position in Autoliv in the 3rd quarter valued at about $45,000. Benjamin F. Edwards & Company Inc. grew its stake in Autoliv by 14.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 954 shares of the auto parts company’s stock valued at $102,000 after buying an additional 117 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Autoliv in the 2nd quarter valued at about $156,000. Finally, Rothschild Investment LLC acquired a new stake in Autoliv during the second quarter worth approximately $209,000. 69.57% of the stock is currently owned by institutional investors and hedge funds.

Autoliv Trading Up 0.3 %

Shares of ALV opened at $93.97 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.71 and a current ratio of 0.96. Autoliv, Inc. has a 52-week low of $89.51 and a 52-week high of $129.38. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.90 and a beta of 1.59. The business’s fifty day moving average is $96.88 and its 200-day moving average is $99.36.

Autoliv (NYSE:ALV) last released its earnings results on Friday, October 18th. The auto parts company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.16). The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.52 billion. Autoliv had a net margin of 5.98% and a return on equity of 30.85%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 EPS. Equities analysts anticipate that Autoliv, Inc. will post 8.19 EPS for the current fiscal year.

Autoliv Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Tuesday, December 3rd were paid a $0.70 dividend. This is an increase from Autoliv’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.80 annualized dividend and a yield of 2.98%. Autoliv’s dividend payout ratio is presently 36.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ALV shares. Wells Fargo & Company lowered their target price on Autoliv from $101.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $116.00 price objective on shares of Autoliv in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on shares of Autoliv in a research report on Thursday, September 5th. They issued an “outperform” rating and a $120.00 target price for the company. StockNews.com lowered shares of Autoliv from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Bank of America decreased their target price on shares of Autoliv from $137.00 to $134.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.46.

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.