Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,137 shares of the company's stock after selling 1,488 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Lithia Motors worth $10,772,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Bridge City Capital LLC boosted its position in shares of Lithia Motors by 8.1% during the 4th quarter. Bridge City Capital LLC now owns 21,180 shares of the company's stock worth $7,570,000 after acquiring an additional 1,586 shares in the last quarter. LPL Financial LLC boosted its holdings in Lithia Motors by 14.2% in the fourth quarter. LPL Financial LLC now owns 4,049 shares of the company's stock valued at $1,447,000 after purchasing an additional 503 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Lithia Motors in the fourth quarter valued at approximately $2,002,000. Blueshift Asset Management LLC acquired a new stake in Lithia Motors during the fourth quarter worth approximately $217,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Lithia Motors by 18.2% during the 4th quarter. Teacher Retirement System of Texas now owns 4,031 shares of the company's stock worth $1,441,000 after buying an additional 622 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on LAD. 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. Evercore ISI raised their price objective on Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company upped their target price on Lithia Motors from $346.00 to $397.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research note on Thursday. Finally, StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $365.91.

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Lithia Motors Stock Performance

Shares of Lithia Motors stock traded up $3.36 during trading hours on Monday, hitting $293.24. 470,574 shares of the company were exchanged, compared to its average volume of 304,616. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The business has a 50-day moving average of $339.00 and a 200-day moving average of $343.49. Lithia Motors, Inc. has a 1 year low of $243.00 and a 1 year high of $405.68. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 4.65 and a beta of 1.69.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, topping analysts' consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. As a group, analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, March 7th. Lithia Motors's dividend payout ratio is presently 7.14%.

Insiders Place Their Bets

In other Lithia Motors news, insider Gary M. Glandon sold 325 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the sale, the insider now directly owns 1,665 shares in the company, valued at approximately $645,786.90. The trade was a 16.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Adam Chamberlain sold 403 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $384.28, for a total transaction of $154,864.84. Following the completion of the transaction, the chief operating officer now owns 2,605 shares of the company's stock, valued at $1,001,049.40. This represents a 13.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,246 shares of company stock worth $433,724. Company insiders own 0.87% of the company's stock.

Lithia Motors Company 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.