Prudential Financial Inc. Sells 18,825 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Prudential Financial Inc. cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,750 shares of the company’s stock after selling 18,825 shares during the quarter. Prudential Financial Inc. owned 1.47% of Group 1 Automotive worth $22,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Quantamental Technologies LLC bought a new stake in Group 1 Automotive during the 1st quarter worth approximately $37,000. Bessemer Group Inc. bought a new stake in Group 1 Automotive during the 2nd quarter worth approximately $120,000. CIBC Asset Management Inc bought a new stake in Group 1 Automotive during the 2nd quarter worth approximately $208,000. Denali Advisors LLC grew its holdings in Group 1 Automotive by 233.3% during the 2nd quarter. Denali Advisors LLC now owns 3,000 shares of the company’s stock worth $246,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Group 1 Automotive during the 2nd quarter worth approximately $250,000. 99.96% of the stock is currently owned by institutional investors.

Shares of NYSE GPI traded up $2.89 during midday trading on Thursday, reaching $77.87. The stock had a trading volume of 3,720 shares, compared to its average volume of 173,181. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.20 and a beta of 1.78. Group 1 Automotive, Inc. has a twelve month low of $48.69 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.24 and a current ratio of 1.01. The company’s 50 day moving average price is $80.17 and its 200 day moving average price is $74.10.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.09. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.92 billion. Group 1 Automotive had a net margin of 1.31% and a return on equity of 15.90%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.45 EPS. Equities analysts forecast that Group 1 Automotive, Inc. will post 10.28 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, August 30th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.26. Group 1 Automotive’s payout ratio is presently 12.57%.

In related news, insider Daryl Kenningham sold 9,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.05, for a total transaction of $783,450.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Peter C. Delongchamps sold 10,200 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.00, for a total transaction of $887,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,200 shares of company stock worth $2,063,100 in the last quarter. 6.00% of the stock is owned by corporate insiders.

A number of research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Group 1 Automotive from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Morgan Stanley boosted their price target on shares of Group 1 Automotive from $95.00 to $104.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $83.80.

Group 1 Automotive Profile

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. The company sells new and used cars, light trucks, and vehicle parts, as well as service insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services. It has operations primarily in the metropolitan areas in Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 32 towns in the United Kingdom; and metropolitan markets in the states of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.

Further Reading: Example of operating income, EBIT and EBITDA

Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

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