Principal Financial Group Inc. Trims Stock Holdings in Visteon Corporation $VC

Principal Financial Group Inc. lowered its stake in shares of Visteon Corporation (NASDAQ:VC) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,820 shares of the company’s stock after selling 6,345 shares during the period. Principal Financial Group Inc.’s holdings in Visteon were worth $33,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in Visteon by 144.1% in the 4th quarter. Farther Finance Advisors LLC now owns 288 shares of the company’s stock valued at $27,000 after purchasing an additional 170 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Visteon by 32.1% during the 4th quarter. UMB Bank n.a. now owns 506 shares of the company’s stock worth $48,000 after purchasing an additional 123 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of Visteon by 183.7% during the 4th quarter. Clearstead Advisors LLC now owns 576 shares of the company’s stock worth $55,000 after purchasing an additional 373 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Visteon by 1,195.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 596 shares of the company’s stock worth $57,000 after buying an additional 550 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of Visteon by 54.8% in the fourth quarter. Hantz Financial Services Inc. now owns 655 shares of the company’s stock valued at $62,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Stock Performance

Visteon stock opened at $104.85 on Monday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.79 and a beta of 1.29. Visteon Corporation has a 12 month low of $83.49 and a 12 month high of $129.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.73 and a quick ratio of 1.43. The stock’s 50-day moving average is $111.88 and its 200-day moving average is $102.02.

Visteon (NASDAQ:VC) last issued its earnings results on Thursday, April 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.31). The firm had revenue of $954.00 million for the quarter, compared to analysts’ expectations of $901.33 million. Visteon had a return on equity of 15.93% and a net margin of 5.99%.The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.47 EPS. Equities analysts anticipate that Visteon Corporation will post 8.67 earnings per share for the current year.

Visteon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, June 1st. Visteon’s payout ratio is currently 18.27%.

Insider Activity at Visteon

In other news, SVP Robert R. Vallance sold 1,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $119.40, for a total value of $119,400.00. Following the completion of the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,085,798.60. This represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sachin Lawande sold 38,817 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were sold at an average price of $113.63, for a total transaction of $4,410,775.71. Following the completion of the transaction, the chief executive officer directly owned 193,822 shares in the company, valued at approximately $22,023,993.86. This represents a 16.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 58,901 shares of company stock valued at $6,699,220 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Visteon from $117.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. Wells Fargo & Company cut their price target on Visteon from $139.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reduced their price target on Visteon from $133.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut Visteon from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, UBS Group lifted their price objective on Visteon from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Visteon has an average rating of “Moderate Buy” and a consensus target price of $135.46.

Visteon Profile

Visteon Corporation is a global automotive electronics supplier that specializes in designing, engineering and manufacturing cockpit electronics and connected vehicle solutions. The company’s product portfolio spans digital instrument clusters, infotainment systems, domain controllers and advanced driver interaction technologies. By integrating hardware, software and services, Visteon aims to deliver complete cockpit electronics platforms that enhance driver experience, safety and connectivity.

Founded in 2000 as a spin-off from Ford Motor Company, Visteon has evolved its focus toward next-generation electronics and software-driven vehicle architectures.