CANADA LIFE ASSURANCE Co Has $8.65 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD)

CANADA LIFE ASSURANCE Co lifted its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,206 shares of the company's stock after acquiring an additional 1,238 shares during the period. CANADA LIFE ASSURANCE Co owned 0.09% of Lithia Motors worth $8,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LAD. Norges Bank acquired a new position in shares of Lithia Motors during the 4th quarter worth about $152,752,000. Egerton Capital UK LLP acquired a new position in shares of Lithia Motors during the fourth quarter worth approximately $113,250,000. Madison Investment Advisors LLC bought a new stake in shares of Lithia Motors in the fourth quarter valued at approximately $91,190,000. Wedge Capital Management L L P NC bought a new position in Lithia Motors during the fourth quarter worth $46,505,000. Finally, Royal London Asset Management Ltd. raised its stake in Lithia Motors by 18.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock valued at $129,398,000 after purchasing an additional 55,142 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 248 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.84, for a total value of $72,128.32. Following the completion of the transaction, the director now owns 1,297 shares in the company, valued at $377,219.48. The trade was a 16.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Adam Chamberlain sold 403 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the transaction, the chief operating officer now directly owns 2,605 shares in the company, valued at approximately $1,001,049.40. This represents a 13.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,246 shares of company stock valued at $433,724. Insiders own 0.87% of the company's stock.

Lithia Motors Price Performance

Shares of NYSE:LAD traded up $0.37 during trading on Friday, reaching $292.54. The stock had a trading volume of 508,177 shares, compared to its average volume of 312,081. The stock has a market capitalization of $7.69 billion, a PE ratio of 9.86, a P/E/G ratio of 4.65 and a beta of 1.61. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors, Inc. has a 52 week low of $243.04 and a 52 week high of $405.68. The business's 50-day moving average price is $305.08 and its 200 day moving average price is $341.00.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. As a group, equities analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio (DPR) is presently 6.93%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $415.00 to $375.00 in a report on Wednesday. Wells Fargo & Company lowered their price objective on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Benchmark reaffirmed a "buy" rating and issued a $400.00 target price on shares of Lithia Motors in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $361.20.

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.