Cigna Investments Inc. New decreased its position in shares of Lithia Motors, Inc. (NYSE: LAD – Get Rating) by 32.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 679 shares of the company stock after selling 320 shares during the period. Cigna Investments Inc. New’s holdings in Lithia Motors were worth $ 201,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in Lithia Motors during the fourth quarter worth approximately $ 29,000. Geneos Wealth Management Inc. increased its position in Lithia Motors by 417.2% during the fourth quarter. Geneos Wealth Management Inc. now owns 150 shares of the company stock worth $ 44,000 after buying an additional 121 shares during the period. CWM LLC acquired a new position in Lithia Motors during the fourth quarter worth approximately $ 46,000. Rockefeller Capital Management LP increased its position in Lithia Motors by 83.7% during the fourth quarter. Rockefeller Capital Management LP now owns 158 shares of the company stock worth $ 46,000 after buying an additional 72 shares during the period. Finally, Covestor Ltd acquired a new position in Lithia Motors during the fourth quarter worth approximately $ 57,000. 92.83% of the stock is currently owned by institutional investors.
In other Lithia Motors news, Director Louis Miramontes sold 250 shares of the business’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $ 321.03, for a total transaction of $ 80,257.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sidney B. Deboer sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $ 312.09, for a total value of $ 1,560,450.00. Following the completion of the transaction, the director now directly owns 45,779 shares of the company stock, valued at $ 14,287,168.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,248 shares of company stock worth $ 3,475,097. 1.70% of the stock is owned by company insiders.
Several brokerages have weighed in on LAD. StockNews.com downgraded Lithia Motors from a “buy” rating to a “hold” rating in a research note on Friday. Guggenheim lifted their target price on Lithia Motors from $ 542.00 to $ 578.00 and gave the company a “buy” rating in a research note on Thursday, April 21st. Wells Fargo & Company lowered their target price on Lithia Motors from $ 362.00 to $ 350.00 and set an “overweight” rating on the stock in a research note on Thursday, April 21st. Morgan Stanley lowered their target price on Lithia Motors from $ 300.00 to $ 260.00 and set an “underweight” rating on the stock in a research note on Friday, May 20th. Finally, JPMorgan Chase & Co. lowered their target price on Lithia Motors from $ 425.00 to $ 380.00 and set an “overweight” rating on the stock in a research note on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company stock. Based on data from MarketBeat.com, Lithia Motors currently has a consensus rating of “Buy” and an average price target of $ 425.83.
Lithia Motors stock opened at $ 293.80 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.38 and a quick ratio of 0.42. Lithia Motors, Inc. has a 1-year low of $ 272.20 and a 1-year high of $ 387.63. The company has a market cap of $ 8.50 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.48. The stock’s 50 day moving average price is $ 295.32 and its 200 day moving average price is $ 301.91.
Lithia Motors (NYSE: LAD – Get Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $ 11.96 earnings per share for the quarter, beating analysts’ consensus estimates of $ 9.63 by $ 2.33. The firm had revenue of $ 6.71 billion for the quarter, compared to the consensus estimate of $ 6.34 billion. Lithia Motors had a return on equity of 29.65% and a net margin of 4.95%. The company revenue for the quarter was up 54.4% compared to the same quarter last year. During the same period in the previous year, the business earned $ 5.89 earnings per share. On average, equities research analysts anticipate that Lithia Motors, Inc. will post 46.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Friday, May 13th were given a dividend of $ 0.42 per share. This represents a $ 1.68 dividend on an annualized basis and a yield of 0.57%. This is an increase from Lithia Motors’s previous quarterly dividend of $ 0.35. The ex-dividend date of this dividend was Thursday, May 12th. Lithia Motors’s payout ratio is presently 4.00%.
About Lithia Motors: (Get Rating)
Lithia Motors, Inc. operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts under the Driveway and GreenCars brand names.
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