Jennison Associates LLC Buys Shares of 28,932 Group 1 Automotive, Inc. (GPI)

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.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2017/11/20/jennison-associates-llc-buys-shares-of-28932-group-1-automotive-inc-gpi.html.

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.

Institutional Ownership by Quarter for Group 1 Automotive (NYSE:GPI)

Receive News & Ratings for Group 1 Automotive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply