The Manufacturers Life Insurance Company Lowers Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

The Manufacturers Life Insurance Company trimmed its position in Lithia Motors, Inc. (NYSE:LAD) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,858 shares of the company’s stock after selling 897 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.62% of Lithia Motors worth $52,683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC lifted its holdings in shares of Lithia Motors by 31.4% in the third quarter. Algert Global LLC now owns 28,248 shares of the company’s stock worth $8,973,000 after buying an additional 6,755 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in shares of Lithia Motors by 0.5% in the third quarter. Moran Wealth Management LLC now owns 22,971 shares of the company’s stock worth $7,297,000 after buying an additional 109 shares in the last quarter. Commerce Bank purchased a new stake in shares of Lithia Motors in the third quarter worth about $204,000. OneAscent Financial Services LLC purchased a new stake in shares of Lithia Motors in the third quarter worth about $246,000. Finally, OneAscent Wealth Management LLC purchased a new stake in shares of Lithia Motors in the third quarter worth about $232,000.

Lithia Motors Stock Down 1.2 %

Shares of NYSE LAD opened at $386.16 on Friday. Lithia Motors, Inc. has a one year low of $243.00 and a one year high of $405.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.27. The firm’s 50 day simple moving average is $336.98 and its two-hundred day simple moving average is $292.25. The stock has a market capitalization of $10.29 billion, a P/E ratio of 13.18, a PEG ratio of 6.48 and a beta of 1.63.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating analysts’ consensus estimates of $7.60 by $0.61. Lithia Motors had a net margin of 2.31% and a return on equity of 12.95%. The business had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same period last year, the business earned $9.25 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts expect that Lithia Motors, Inc. will post 29.42 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, November 8th. Lithia Motors’s dividend payout ratio is 7.24%.

Insider Transactions at Lithia Motors

In other news, Director Sidney B. Deboer sold 10,777 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $275.93, for a total value of $2,973,697.61. Following the transaction, the director now owns 35,352 shares in the company, valued at approximately $9,754,677.36. This trade represents a 23.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bryan B. Deboer sold 15,846 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $386.72, for a total transaction of $6,127,965.12. Following the completion of the transaction, the chief executive officer now owns 207,924 shares in the company, valued at $80,408,369.28. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,067 shares of company stock worth $20,933,294. Insiders own 1.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LAD shares. Citigroup raised their target price on shares of Lithia Motors from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Friday. Guggenheim raised their target price on shares of Lithia Motors from $380.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Stephens raised their target price on shares of Lithia Motors from $360.00 to $405.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised their target price on shares of Lithia Motors from $300.00 to $335.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Lithia Motors currently has a consensus rating of “Moderate Buy” and a consensus price target of $357.60.

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.