The automotive industry uses centrifugal pendulum vibration absorbers (CPVAs) to reduce vibrations of the transmission system. These passive devices are made of several masses oscillating along a given path relative to a rotor. This work addresses a recent design of CPVA, in which the pendulums are allowed to rotate relatively to the rotor. The dynamic stability of this CPVA and the shifting of its operating point are investigated in this paper. These two aspects, crucial for an optimal vibration reduction, are assessed using an analytic dynamical model based on a perturbation method. The results obtained allow to propose new design guidelines. The validity of the model is confirmed through a comparison with a numerical resolution of the system’s dynamics.