Principal Financial Group Inc. Sells 5,429 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Principal Financial Group Inc. lessened its position in Group 1 Automotive, Inc. (NYSE:GPI) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,576 shares of the company’s stock after selling 5,429 shares during the quarter. Principal Financial Group Inc.’s holdings in Group 1 Automotive were worth $25,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC grew its holdings in Group 1 Automotive by 12.2% in the 3rd quarter. Innealta Capital LLC now owns 633 shares of the company’s stock valued at $242,000 after buying an additional 69 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Group 1 Automotive in the third quarter worth $229,000. Harbor Capital Advisors Inc. bought a new position in Group 1 Automotive during the third quarter worth $36,000. Farther Finance Advisors LLC boosted its holdings in Group 1 Automotive by 699.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,431 shares of the company’s stock valued at $548,000 after purchasing an additional 1,252 shares during the period. Finally, US Bancorp DE grew its position in Group 1 Automotive by 2.9% in the 3rd quarter. US Bancorp DE now owns 1,996 shares of the company’s stock worth $765,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Stock Performance

Shares of NYSE:GPI opened at $405.88 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.26. The business’s fifty day moving average price is $368.70 and its two-hundred day moving average price is $336.51. Group 1 Automotive, Inc. has a fifty-two week low of $255.73 and a fifty-two week high of $417.98. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last announced its earnings results on Wednesday, October 30th. The company reported $9.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a net margin of 2.68% and a return on equity of 18.49%. The business had revenue of $5.22 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the company posted $12.07 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts predict that Group 1 Automotive, Inc. will post 38.6 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.46%. Group 1 Automotive’s payout ratio is currently 5.01%.

Group 1 Automotive declared that its board has initiated a stock repurchase plan on Tuesday, November 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GPI shares. Stephens assumed coverage on shares of Group 1 Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $394.00 price objective for the company. Bank of America reduced their price objective on Group 1 Automotive from $445.00 to $435.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Morgan Stanley upgraded Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Group 1 Automotive from $420.00 to $425.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $397.80.

Insider Buying and Selling

In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $350.99, for a total value of $421,188.00. Following the transaction, the vice president now owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Group 1 Automotive news, VP Michael David Jones sold 1,200 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $350.99, for a total value of $421,188.00. Following the completion of the transaction, the vice president now directly owns 9,742 shares of the company’s stock, valued at approximately $3,419,344.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Edward Mckissic sold 79 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the sale, the vice president now directly owns 6,259 shares in the company, valued at $2,340,928.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

About Group 1 Automotive

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. The company sells new and used cars, light trucks, and vehicle parts, as well as service and insurance contracts; arranges related vehicle financing; and offers automotive maintenance and repair services.