Principal Financial Group Inc. Acquires 1,047 Shares of Lithia Motors, Inc. (NYSE:LAD)

Principal Financial Group Inc. increased its position in Lithia Motors, Inc. (NYSE:LAD) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,564 shares of the company’s stock after acquiring an additional 1,047 shares during the quarter. Principal Financial Group Inc. owned about 0.35% of Lithia Motors worth $33,151,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in LAD. FMR LLC boosted its position in shares of Lithia Motors by 6,081.4% in the first quarter. FMR LLC now owns 205,098 shares of the company’s stock valued at $19,022,000 after acquiring an additional 201,780 shares during the period. HighTower Advisors LLC boosted its position in shares of Lithia Motors by 14.4% in the second quarter. HighTower Advisors LLC now owns 652 shares of the company’s stock valued at $226,000 after acquiring an additional 82 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Lithia Motors by 164.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 35,856 shares of the company’s stock valued at $12,322,000 after purchasing an additional 22,300 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Lithia Motors by 64.9% in the second quarter. Rafferty Asset Management LLC now owns 3,030 shares of the company’s stock valued at $1,041,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Lithia Motors by 330.0% in the second quarter. Rockefeller Capital Management L.P. now owns 86 shares of the company’s stock valued at $29,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Lithia Motors from $335.00 to $303.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 17th. Seaport Res Ptn restated a “buy” rating on shares of Lithia Motors in a report on Friday, October 22nd. Finally, Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $324.00 target price on the stock in a report on Tuesday, December 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $410.67.

In other Lithia Motors news, Director Shauna Mcintyre sold 270 shares of the business’s stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $277.53, for a total value of $74,933.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

LAD opened at $306.98 on Friday. The stock has a 50-day moving average price of $296.49 and a 200-day moving average price of $326.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.41 and a quick ratio of 0.49. The firm has a market cap of $9.30 billion, a PE ratio of 9.11, a P/E/G ratio of 0.37 and a beta of 1.67. Lithia Motors, Inc. has a 1 year low of $274.03 and a 1 year high of $417.98.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Tuesday, October 19th. The company reported $11.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.30 by $1.91. Lithia Motors had a return on equity of 26.99% and a net margin of 4.67%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the previous year, the firm earned $6.89 EPS. Lithia Motors’s quarterly revenue was up 70.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lithia Motors, Inc. will post 38.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, November 12th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, November 10th. Lithia Motors’s dividend payout ratio (DPR) is 4.16%.

Lithia Motors Company Profile

Lithia Motors, Inc engages in the operation of automotive franchises and retail of new and used vehicles. It operates through the following segments: Domestic, Import and Luxury. The Domestic segment comprises of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors, and Ford.

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Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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