Group 1 Automotive, Inc. (NYSE:GPI) Stake Reduced by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,758 shares of the company’s stock after selling 300 shares during the period. Handelsbanken Fonder AB’s holdings in Group 1 Automotive were worth $1,584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPI. FMR LLC raised its holdings in Group 1 Automotive by 133.0% during the 3rd quarter. FMR LLC now owns 407,930 shares of the company’s stock worth $156,253,000 after buying an additional 232,846 shares during the period. Thrivent Financial for Lutherans grew its stake in Group 1 Automotive by 596.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 76,384 shares of the company’s stock valued at $29,259,000 after acquiring an additional 65,414 shares in the last quarter. Verition Fund Management LLC grew its stake in Group 1 Automotive by 3,663.1% during the 3rd quarter. Verition Fund Management LLC now owns 55,280 shares of the company’s stock valued at $21,174,000 after acquiring an additional 53,811 shares in the last quarter. Barclays PLC grew its stake in Group 1 Automotive by 244.7% during the 3rd quarter. Barclays PLC now owns 56,319 shares of the company’s stock valued at $21,573,000 after acquiring an additional 39,982 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in Group 1 Automotive during the 3rd quarter valued at about $13,117,000. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Stock Up 0.4 %

GPI opened at $461.27 on Thursday. The business has a 50 day moving average price of $445.94 and a 200 day moving average price of $404.36. Group 1 Automotive, Inc. has a twelve month low of $258.77 and a twelve month high of $490.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 1.03. The firm has a market cap of $6.11 billion, a P/E ratio of 12.55 and a beta of 1.36.

Group 1 Automotive (NYSE:GPI) last posted its earnings results on Wednesday, January 29th. The company reported $10.02 earnings per share for the quarter, topping the consensus estimate of $8.77 by $1.25. Group 1 Automotive had a return on equity of 18.09% and a net margin of 2.47%. Research analysts forecast that Group 1 Automotive, Inc. will post 41 EPS for the current year.

Group 1 Automotive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.50 dividend. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. Group 1 Automotive’s payout ratio is 5.44%.

Group 1 Automotive announced that its board has initiated a stock repurchase program on Tuesday, November 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

GPI has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Group 1 Automotive in a research note on Friday, December 13th. They set a “buy” rating and a $500.00 target price on the stock. Guggenheim lifted their target price on Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on Group 1 Automotive from $420.00 to $495.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Stephens reaffirmed an “equal weight” rating and set a $460.00 target price on shares of Group 1 Automotive in a research note on Thursday, January 30th. Finally, StockNews.com raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $460.33.

Insider Buying and Selling

In other news, Director Lincoln Pereira sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $426.68, for a total value of $2,560,080.00. Following the sale, the director now owns 98,467 shares in the company, valued at approximately $42,013,899.56. This trade represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Group 1 Automotive 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.