QUOTE AND NEWS
Insurance Journal  Mar 5  Comment 
Hull & Company Inc. has named Sherif Azer a commercial underwriter/broker in its Irvine, Calif. office. Azer focuses on commercial lines with the placement of E&S brokerage and MGA risks. Azer began his insurance career at Bass Underwriters in...
Benzinga  Feb 26  Comment 
In a report published Thursday, Credit Suisse analyst Dan Galves reiterated an Outperform rating on Magna International Inc. (USA) (NYSE: MGA), and raised the price target from $121.00 to $127.00. In the report, Credit Suisse noted, "Magna...
Wall Street Journal  Feb 25  Comment 
The finance chief of Magna International said the auto parts maker remains interested in building another car assembly plant but only if it could secure enough long-term demand to support such a move.
Benzinga  Feb 25  Comment 
Magna International Inc (NYSE: MGA) reported stronger-than-expected earnings for the fourth quarter. However, the company lowered its revenue outlook for 2015. The company's board also approved a 2-for-1 stock split and lifted its quarterly...
Insurance Journal  Feb 23  Comment 
The UK’s Managing General Agents’ Association (MGAA) announced plans at its 3rd Annual General Meeting to hold its first UK MGA conference at the One America Square in London on 1 July 2015. The organization has rapidly become one of … The...
TechCrunch  Feb 23  Comment 
 Samsung SDI is getting more serious about EVs with the purchase of the EV battery pack division of Magna International. Under the agreement, Samsung SDI will acquire Magna Steyr including all 264 employees, production and development sites....
Insurance Journal  Feb 19  Comment 
The South Central region of wholesale insurance broker All Risks Ltd. has tapped David Tuley, to commence its Houston operation. In addition, Katie Coffey joined All Risks’ Austin, Texas, office as a brokerage underwriter, handling MGA contracts...
Market Intelligence Center  Feb 12  Comment 
Magna International Inc. (MGA) presents a trading opportunity that offers a 5.80% return in just 127 days. A covered call on Magna at the $100.00 level expiring on Jun. '15 offers an assigned return rate of 5.80% or 16.66% annualized. This trade...
Insurance Journal  Feb 10  Comment 
In mid-November 2014, Texas’ largest association of independent retail insurance agents took the unprecedented step of acquiring a managing general agency as a way of providing its members greater access to non-admitted commercial insurance...




 
TOP CONTRIBUTORS

Magna International Inc. is a leading component manufacturer, supplier of all wheel drive systems, and vehicle assembler. The company is one of the largest North American suppliers of original equipment components, assemblies, modules and systems, and related tools for cars and light trucks. The company is also a global supplier of technologically advanced automotive components, systems and modules. The company designs, engineers and manufactures a range of exterior, interior and powertrain systems. Magna also provides vehicle design, engineering, assembly and program management services to its customers. The company's operations are conducted through its global automotive systems groups. The company operates through three segments: North America, Europe, and Rest of World (consisting of primarily South America an Asia). DaimlerChrysler, Ford, and General Motors are the major customers of the company, collectively accounting for around 70% of Magna's revenue.


Magna enjoys a strong competitive position in the industry as it is one of the few providers of a complete range of interior and exterior auto systems to global auto companies. Increasing content per vehicle (CPV) is the main driver of Magna's growth. CPVs in both North America and Europe have been increasing over time.

The company is a major provider of interior and exterior systems to automotive companies. Some of the prominent new product launches driving CPV growth include Chevy Equinox, Chevy Cobalt, SAAB 9-3 and BMW X3. The key platforms boosting CPV growth rate in North America are Chrysler minivans, Chrysler Pacifica, Chrysler 300, 300c, and Ford F-150. Simultaneously in Europe, the Mercedes B class, Honda Civic, BMW01 series, and Land Rover discovery are supporting CPV growth. Recently, Magna agreed to develop and produce the MINI sports activity vehicle for the BMW Group. With this, the company expects its annual sales to be more than $1 billion. Magna also has a strong balance sheet with cash and cash equivalents amounting to $1.7 billion.

The company has strong relationships with GM, Ford, and DaimlerChrysler. It has been recognized as an important supplier by all these automakers. Additionally, the bankruptcy filing by the component supplier Delphi Corporation has provided Magna with various business opportunities. Moreover, MGA has been awarded the transfer case business by Nissan. These trends make us believe that MGA will gain new businesses in the coming quarters. Further, GM has launched new full-size SUVs that will further strengthen demand for MGA's product line.




References

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