Principal Financial Group Inc. Purchases 2,037 Shares of Lithia Motors, Inc. $LAD

Principal Financial Group Inc. grew its position in Lithia Motors, Inc. (NYSE:LAD) by 3.9% during the first quarter, HoldingsChannel reports. The firm owned 54,197 shares of the company’s stock after buying an additional 2,037 shares during the period. Principal Financial Group Inc.’s holdings in Lithia Motors were worth $13,534,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LAD. 180 Wealth Advisors LLC lifted its holdings in Lithia Motors by 5.6% in the first quarter. 180 Wealth Advisors LLC now owns 8,788 shares of the company’s stock valued at $2,195,000 after buying an additional 465 shares during the period. Fifth Third Bancorp grew its holdings in Lithia Motors by 5,544.9% during the 1st quarter. Fifth Third Bancorp now owns 15,975 shares of the company’s stock worth $3,989,000 after acquiring an additional 15,692 shares during the period. Hsbc Holdings PLC raised its position in shares of Lithia Motors by 10.7% in the 1st quarter. Hsbc Holdings PLC now owns 20,489 shares of the company’s stock worth $5,100,000 after acquiring an additional 1,974 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Lithia Motors by 2.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 4,962 shares of the company’s stock valued at $1,239,000 after purchasing an additional 109 shares during the period. Finally, R Squared Ltd lifted its stake in shares of Lithia Motors by 133.6% in the 1st quarter. R Squared Ltd now owns 1,649 shares of the company’s stock valued at $412,000 after purchasing an additional 943 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research raised Lithia Motors from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 23rd. Wells Fargo & Company boosted their price target on Lithia Motors from $305.00 to $306.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Barclays cut their price target on Lithia Motors from $370.00 to $360.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. UBS Group raised their price objective on shares of Lithia Motors from $348.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lithia Motors from $320.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and an average target price of $380.33.

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $334.59 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.24 and a debt-to-equity ratio of 1.41. The stock has a market cap of $7.63 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.80 and a beta of 1.26. The stock’s fifty day simple moving average is $300.60 and its two-hundred day simple moving average is $293.80. Lithia Motors, Inc. has a 1-year low of $239.78 and a 1-year high of $360.55.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, April 29th. The company reported $7.34 EPS for the quarter, beating the consensus estimate of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company posted $7.66 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, analysts forecast that Lithia Motors, Inc. will post 34.19 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.55. Lithia Motors’s payout ratio is currently 8.01%.

Lithia Motors declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Lithia Motors news, Director Richard J. Bailey, Jr. sold 297 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $280.57, for a total value of $83,329.29. Following the completion of the sale, the director owned 760 shares in the company, valued at approximately $213,233.20. This trade represents a 28.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shauna Mcintyre sold 165 shares of Lithia Motors stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total transaction of $50,430.60. Following the transaction, the director directly owned 1,681 shares in the company, valued at approximately $513,780.84. This represents a 8.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 782 shares of company stock valued at $229,572. Company insiders own 1.08% of the company’s stock.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.