Legal & General Group Plc Reduces Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Legal & General Group Plc trimmed its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,292 shares of the company's stock after selling 1,678 shares during the quarter. Legal & General Group Plc owned about 0.22% of Lithia Motors worth $21,193,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Lithia Motors in the fourth quarter worth $152,752,000. Egerton Capital UK LLP purchased a new stake in Lithia Motors in the fourth quarter valued at about $113,250,000. Madison Investment Advisors LLC acquired a new stake in Lithia Motors in the fourth quarter worth about $91,190,000. Wedge Capital Management L L P NC acquired a new position in shares of Lithia Motors during the fourth quarter valued at about $46,505,000. Finally, Royal London Asset Management Ltd. raised its position in shares of Lithia Motors by 18.0% in 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.

Insider Transactions at Lithia Motors

In related news, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total transaction of $80,676.00. Following the transaction, the director now owns 1,213 shares of the company's stock, valued at approximately $362,444.40. This represents a 18.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shauna Mcintyre sold 248 shares of Lithia Motors stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the transaction, the director now owns 1,297 shares of the company's stock, valued at $377,219.48. This trade represents a 16.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,246 shares of company stock valued at $433,724 over the last 90 days. 0.87% of the stock is currently owned by corporate insiders.

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Lithia Motors Price Performance

Shares of LAD stock traded down $0.08 during trading hours on Tuesday, hitting $290.90. 179,000 shares of the company's stock were exchanged, compared to its average volume of 313,179. The firm has a market cap of $7.65 billion, a P/E ratio of 9.80, a P/E/G ratio of 4.65 and a beta of 1.61. The firm has a 50 day moving average of $319.35 and a two-hundred day moving average of $341.91. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. Lithia Motors, Inc. has a fifty-two week low of $243.00 and a fifty-two week high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. Sell-side analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Announces Dividend

The company 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. The ex-dividend date was Friday, March 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.73%. Lithia Motors's payout ratio is currently 7.14%.

Analyst Ratings Changes

A number of research firms have issued reports on LAD. Wells Fargo & Company raised their price target on shares of Lithia Motors from $346.00 to $397.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Benchmark reissued a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Evercore ISI raised their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $365.91.

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.