Glenmede Trust Co. NA Purchases 264 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Glenmede Trust Co. NA grew its position in Group 1 Automotive, Inc. (NYSE:GPI) by 33.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,059 shares of the company’s stock after acquiring an additional 264 shares during the period. Glenmede Trust Co. NA’s holdings in Group 1 Automotive were worth $406,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Group 1 Automotive by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,460 shares of the company’s stock valued at $2,765,000 after acquiring an additional 515 shares during the last quarter. Cetera Advisors LLC raised its holdings in Group 1 Automotive by 73.5% during the 1st quarter. Cetera Advisors LLC now owns 1,492 shares of the company’s stock worth $436,000 after purchasing an additional 632 shares during the last quarter. CX Institutional raised its holdings in Group 1 Automotive by 3.2% during the 2nd quarter. CX Institutional now owns 9,956 shares of the company’s stock worth $2,960,000 after purchasing an additional 308 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Group 1 Automotive by 53.7% during the 2nd quarter. Hexagon Capital Partners LLC now owns 146 shares of the company’s stock worth $43,000 after purchasing an additional 51 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in Group 1 Automotive in the second quarter worth approximately $452,000. 99.92% of the stock is currently owned by institutional investors.

Group 1 Automotive Trading Up 0.7 %

NYSE:GPI opened at $435.07 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. The firm has a 50-day moving average of $385.48 and a 200-day moving average of $349.25. Group 1 Automotive, Inc. has a one year low of $255.73 and a one year high of $440.32. The company has a market cap of $5.79 billion, a PE ratio of 11.59 and a beta of 1.35.

Group 1 Automotive (NYSE:GPI) last issued its quarterly earnings data 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 the consensus estimate of $5.06 billion. During the same period in the prior year, the firm posted $12.07 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Group 1 Automotive, Inc. will post 38.37 EPS for the current fiscal year.

Group 1 Automotive Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.88 annualized dividend and a yield of 0.43%. Group 1 Automotive’s payout ratio is currently 5.01%.

Group 1 Automotive declared that its board has authorized a stock repurchase program on Tuesday, November 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 9.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

GPI has been the subject of a number of research analyst reports. Stephens initiated coverage on Group 1 Automotive in a report on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley raised Group 1 Automotive from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $285.00 to $430.00 in a research report on Wednesday, September 25th. Guggenheim boosted their target price on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Group 1 Automotive currently has a consensus rating of “Moderate Buy” and an average target price of $425.20.

Insider Activity at Group 1 Automotive

In related news, VP Edward Mckissic sold 79 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total transaction of $29,546.79. Following the completion of the transaction, the vice president now owns 6,259 shares in the company, valued at approximately $2,340,928.59. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is owned by company insiders.

Group 1 Automotive Company Profile

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.