Jennison Associates LLC bought a new position in Group 1 Automotive, Inc. (NYSE:GPI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 28,932 shares of the company’s stock, valued at approximately $2,096,000. Jennison Associates LLC owned 0.14% of Group 1 Automotive at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new position in shares of Group 1 Automotive in the third quarter worth $215,000. Great West Life Assurance Co. Can grew its stake in shares of Group 1 Automotive by 3.2% in the second quarter. Great West Life Assurance Co. Can now owns 29,006 shares of the company’s stock worth $1,836,000 after purchasing an additional 900 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of Group 1 Automotive in the second quarter worth $1,322,000. NN Investment Partners Holdings N.V. grew its stake in shares of Group 1 Automotive by 8.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 9,505 shares of the company’s stock worth $602,000 after purchasing an additional 715 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Group 1 Automotive by 5.7% in the second quarter. Vanguard Group Inc. now owns 2,275,649 shares of the company’s stock worth $144,095,000 after purchasing an additional 122,130 shares in the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO John C. Rickel sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $66.99, for a total transaction of $669,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Peter C. Delongchamps sold 884 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $81.10, for a total value of $71,692.40. Following the sale, the vice president now directly owns 40,812 shares of the company’s stock, valued at $3,309,853.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,694 shares of company stock valued at $5,189,106. Company insiders own 6.08% of the company’s stock.
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Shares of Group 1 Automotive, Inc. (NYSE GPI) opened at $77.01 on Monday. The stock has a market capitalization of $1,606.35, a PE ratio of 10.45, a P/E/G ratio of 1.48 and a beta of 1.69. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.05 and a quick ratio of 0.27. Group 1 Automotive, Inc. has a one year low of $51.62 and a one year high of $83.18.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Thursday, October 26th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.47. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.80 billion. Group 1 Automotive had a return on equity of 15.69% and a net margin of 1.20%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. analysts predict that Group 1 Automotive, Inc. will post 7.41 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.25 dividend. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, November 30th. Group 1 Automotive’s dividend payout ratio is currently 15.26%.
Several research analysts recently weighed in on GPI shares. Berenberg Bank started coverage on Group 1 Automotive in a research note on Wednesday, October 4th. They set a “hold” rating and a $77.00 target price for the company. Zacks Investment Research raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. KeyCorp reaffirmed a “hold” rating on shares of Group 1 Automotive in a research note on Wednesday, October 4th. Wells Fargo & Company raised their target price on Group 1 Automotive from $65.00 to $85.00 and gave the company a “market perform” rating in a research note on Monday, October 30th. Finally, ValuEngine cut Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $79.00.
About Group 1 Automotive
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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