Great West Life Assurance Co Can Lowers stake in Magna International (USA) (MGA)

Magna International (USA) (MGA) : Great West Life Assurance Co Can reduced its stake in Magna International (USA) by 4.45% during the most recent quarter end. The investment management company now holds a total of 5,952,461 shares of Magna International (USA) which is valued at $226,074,469 after selling 276,948 shares in Magna International (USA) , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Magna International (USA) makes up approximately 0.66% of Great West Life Assurance Co Can’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities boosted its stake in MGA in the latest quarter, The investment management firm added 27,290 additional shares and now holds a total of 35,745 shares of Magna International (USA) which is valued at $1,357,595. Magna International (USA) makes up approx 0.01% of Sg Americas Securities’s portfolio.Regentatlantic Capital reduced its stake in MGA by selling 1,869 shares or 2.49% in the most recent quarter. The Hedge Fund company now holds 73,217 shares of MGA which is valued at $2,804,211. Magna International (USA) makes up approx 0.26% of Regentatlantic Capital’s portfolio.Gulf International Bank (uk) Ltd boosted its stake in MGA in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 126,404 shares of Magna International (USA) which is valued at $4,678,212. Magna International (USA) makes up approx 0.08% of Gulf International Bank (uk) Ltd’s portfolio.Carl Domino Inc reduced its stake in MGA by selling 270 shares or 0.79% in the most recent quarter. The Hedge Fund company now holds 33,870 shares of MGA which is valued at $1,185,789. Magna International (USA) makes up approx 1.09% of Carl Domino Inc’s portfolio.

Magna International (USA) opened for trading at $40.42 and hit $40.51 on the upside on Monday, eventually ending the session at $40.21, with a gain of 0.73% or 0.29 points. The heightened volatility saw the trading volume jump to 20,71,970 shares. Company has a market cap of $15,951 M.

On the company’s financial health, Magna International (USA) reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $1.34. The company had revenue of $9443.00 million for the quarter, compared to analysts expectations of $9204.19 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Many Wall Street Analysts have commented on Magna International (USA). Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $52 .

Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development engineering and sales centers in approximately 28 countries. Its product capabilities include producing body chassis interior exterior seating powertrain electronic vision closure and roof systems and modules as well as vehicle engineering and contract manufacturing. Its customers include General Motors Fiat-Chrysler Ford BMW Daimler and Volkswagen. Its offers programs which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America Europe and Asia.

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