Principal Financial Group Inc. Sells 29,306 Shares of Lithia Motors, Inc. (NYSE:LAD)

Principal Financial Group Inc. trimmed its holdings in Lithia Motors, Inc. (NYSE:LAD) by 32.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,963 shares of the company’s stock after selling 29,306 shares during the period. Principal Financial Group Inc. owned about 0.23% of Lithia Motors worth $19,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Lithia Motors by 14.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,700,893 shares of the company’s stock valued at $429,390,000 after purchasing an additional 217,867 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Lithia Motors by 25.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,016,520 shares of the company’s stock valued at $256,621,000 after buying an additional 203,543 shares during the last quarter. FMR LLC boosted its position in shares of Lithia Motors by 12.8% during the third quarter. FMR LLC now owns 753,067 shares of the company’s stock valued at $239,204,000 after buying an additional 85,579 shares during the last quarter. River Road Asset Management LLC raised its position in Lithia Motors by 27.5% in the 3rd quarter. River Road Asset Management LLC now owns 365,184 shares of the company’s stock valued at $115,997,000 after buying an additional 78,784 shares during the last quarter. Finally, Tensile Capital Management LP raised its position in Lithia Motors by 2.4% in the 3rd quarter. Tensile Capital Management LP now owns 261,527 shares of the company’s stock valued at $83,071,000 after buying an additional 6,252 shares during the last quarter.

Insider Activity

In related news, CEO Bryan B. Deboer sold 15,846 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $386.72, for a total transaction of $6,127,965.12. Following the sale, the chief executive officer now owns 207,924 shares of the company’s stock, valued at approximately $80,408,369.28. This represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary M. Glandon sold 242 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $382.86, for a total transaction of $92,652.12. Following the completion of the transaction, the insider now directly owns 1,729 shares of the company’s stock, valued at approximately $661,964.94. The trade was a 12.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,290 shares of company stock worth $17,959,596 over the last ninety days. Company insiders own 1.79% of the company’s stock.

Lithia Motors Price Performance

LAD opened at $366.26 on Friday. The firm has a 50-day moving average price of $364.34 and a 200-day moving average price of $308.41. Lithia Motors, Inc. has a twelve month low of $243.00 and a twelve month high of $405.67. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $9.76 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 6.25 and a beta of 1.65.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, October 23rd. The company reported $8.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The business had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter in the previous year, the firm posted $9.25 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Lithia Motors, Inc. will post 29.42 EPS for the current year.

Lithia Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Friday, November 8th. Lithia Motors’s payout ratio is presently 7.24%.

Analyst Upgrades and Downgrades

LAD has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Lithia Motors from $299.00 to $343.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Stephens lifted their target price on shares of Lithia Motors from $360.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Guggenheim upped their target price on Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on Lithia Motors from $375.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Citigroup upped their price objective on Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $357.60.

Lithia Motors Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company’s Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.