5,508 Shares in Magna International Inc. $MGA Purchased by RiverFront Investment Group LLC

RiverFront Investment Group LLC purchased 5,508 shares of Magna International Inc. during Q2, valued at $213,000. Other institutional investors also increased their stakes. Analysts have raised price targets for Magna, with TD Securities, JPMorgan, Wells Fargo, and Evercore ISI providing positive ratings. Magna's quarterly earnings exceeded expectations, and the company announced a dividend with a 4.0% yield. The stock has a 52-week range of $30.39-$50.77 and a market cap of $13.77 billion.

RiverFront Investment Group LLC bought a new stake in Magna International Inc. (NYSE:MGA - Free Report) TSE: MG during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,508 shares of the company's stock, valued at approximately $213,000.

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Several other institutional investors have also recently bought and sold shares of the company. ARGA Investment Management LP boosted its position in Magna International by 3.9% during the 2nd quarter. ARGA Investment Management LP now owns 3,114,386 shares of the company's stock worth $120,366,000 after acquiring an additional 116,529 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Magna International by 20.2% in the second quarter. Geode Capital Management LLC now owns 2,015,407 shares of the company's stock worth $77,332,000 after purchasing an additional 338,470 shares in the last quarter. QV Investors Inc. boosted its holdings in Magna International by 0.6% during the second quarter. QV Investors Inc. now owns 651,377 shares of the company's stock worth $25,129,000 after purchasing an additional 3,912 shares during the last quarter. Amundi boosted its holdings in Magna International by 19.0% during the first quarter. Amundi now owns 582,710 shares of the company's stock worth $19,305,000 after purchasing an additional 93,189 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Magna International by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 254,557 shares of the company's stock valued at $9,828,000 after purchasing an additional 2,057 shares in the last quarter. Institutional investors own 67.49% of the company's stock.

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Magna International Trading Down 0.7%

Shares of NYSE:MGA opened at $48.85 on Thursday. Magna International Inc. has a 52-week low of $30.39 and a 52-week high of $50.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.16. The company has a market capitalization of $13.77 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.00 and a beta of 1.59. The company has a 50-day simple moving average of $47.10 and a 200 day simple moving average of $43.17.

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Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.09. Magna International had a return on equity of 11.89% and a net margin of 2.91%.The firm had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $10.03 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. The business's revenue was up 1.8% compared to the same quarter last year. Magna International has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Friday, November 14th. Magna International's dividend payout ratio is 53.01%.

Analysts Set New Price Targets

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Several brokerages have commented on MGA. TD Securities boosted their price target on shares of Magna International from $57.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, November 3rd. Wall Street Zen raised Magna International from a "buy" rating to a "strong-buy" rating in a research report on Sunday, November 9th. JPMorgan Chase & Co. upped their target price on Magna International from $53.00 to $57.00 and gave the stock an "overweight" rating in a report on Monday, November 3rd. Wells Fargo & Company increased their price target on Magna International from $45.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, November 3rd. Finally, Evercore ISI boosted their price target on Magna International from $47.00 to $52.00 and gave the stock an "in-line" rating in a research report on Monday. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $49.33.

View Our Latest Stock Analysis on Magna International

About Magna International

(Free Report)

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.

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