The Manufacturers Life Insurance Company trimmed its position in Group 1 Automotive, Inc. (NYSE:GPI – Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,020 shares of the company’s stock after selling 33,648 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Group 1 Automotive were worth $111,429,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in Group 1 Automotive by 6.1% in the 2nd quarter. NewEdge Advisors LLC now owns 471 shares of the company’s stock valued at $206,000 after buying an additional 27 shares during the period. Signaturefd LLC raised its stake in shares of Group 1 Automotive by 54.9% in the 4th quarter. Signaturefd LLC now owns 79 shares of the company’s stock valued at $31,000 after buying an additional 28 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Group 1 Automotive by 3.4% during the 4th quarter. Lido Advisors LLC now owns 935 shares of the company’s stock worth $399,000 after acquiring an additional 31 shares during the period. Assetmark Inc. lifted its holdings in shares of Group 1 Automotive by 40.5% during the 4th quarter. Assetmark Inc. now owns 118 shares of the company’s stock worth $46,000 after acquiring an additional 34 shares during the period. Finally, CWM LLC boosted its position in shares of Group 1 Automotive by 7.2% during the 4th quarter. CWM LLC now owns 551 shares of the company’s stock valued at $217,000 after acquiring an additional 37 shares in the last quarter. 99.92% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Group 1 Automotive in a research note on Friday, June 12th. JPMorgan Chase & Co. cut their price target on shares of Group 1 Automotive from $390.00 to $380.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Evercore set a $440.00 price objective on Group 1 Automotive in a report on Tuesday, July 7th. UBS Group lowered their price objective on Group 1 Automotive from $338.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Finally, Barclays dropped their target price on Group 1 Automotive from $470.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Group 1 Automotive presently has an average rating of “Moderate Buy” and a consensus price target of $426.89.
Group 1 Automotive Stock Up 3.9%
GPI opened at $350.71 on Wednesday. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.89 and a beta of 0.83. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.21 and a current ratio of 0.95. The firm’s 50-day simple moving average is $313.99 and its 200-day simple moving average is $332.74. Group 1 Automotive, Inc. has a twelve month low of $279.10 and a twelve month high of $488.39.
Group 1 Automotive (NYSE:GPI – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $8.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.82 by ($0.16). The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.42 billion. Group 1 Automotive had a net margin of 1.46% and a return on equity of 16.63%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $10.17 earnings per share. Equities research analysts anticipate that Group 1 Automotive, Inc. will post 41.57 EPS for the current fiscal year.
Group 1 Automotive Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 0.6%. Group 1 Automotive’s dividend payout ratio (DPR) is presently 8.40%.
About Group 1 Automotive
Group 1 Automotive, Inc (NYSE: GPI) is an international automotive retailer headquartered in Houston, Texas. The company operates an extensive network of franchised dealerships, offering new and pre-owned vehicles from leading domestic and import manufacturers. In addition to vehicle sales, Group 1 Automotive provides a full complement of aftersales services, including finance and insurance products, parts distribution, collision repair centers and vehicle maintenance.
Founded in 1997, Group 1 Automotive has grown through both organic expansion and strategic acquisitions to establish a presence across the United States, the United Kingdom and Brazil.
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