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Assenagon Asset Management S.A. acquired a new stake in Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,250 shares of the company’s stock, valued at approximately $6,882,000. Assenagon Asset Management S.A. owned 0.19% of Group 1 Automotive at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of GPI. National Bank of Canada FI bought a new position in Group 1 Automotive during the fourth quarter worth about $67,000. First Horizon Advisors Inc. grew its stake in Group 1 Automotive by 4,862.5% during the third quarter. First Horizon Advisors Inc. now owns 1,191 shares of the company’s stock worth $72,000 after buying an additional 1,167 shares in the last quarter. CWM LLC acquired a new stake in Group 1 Automotive during the fourth quarter worth about $150,000. Telemus Capital LLC acquired a new stake in Group 1 Automotive during the fourth quarter worth about $160,000. Finally, World Asset Management Inc acquired a new stake in Group 1 Automotive during the third quarter worth about $204,000. 96.94% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on GPI shares. Morgan Stanley reduced their price objective on shares of Group 1 Automotive from $200.00 to $187.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 8th. JPMorgan Chase & Co. downgraded shares of Group 1 Automotive from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $240.00 to $200.00 in a research note on Thursday. Finally, StockNews.com assumed coverage on shares of Group 1 Automotive in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $230.60.
In other Group 1 Automotive news, CEO Earl J. Hesterberg sold 3,294 shares of the firm’s stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $197.21, for a total transaction of $649,609.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael David Jones sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $180.20, for a total transaction of $720,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,672 shares of company stock worth $2,175,830. 5.20% of the stock is owned by corporate insiders.
GPI opened at $152.98 on Friday. The company’s 50 day moving average is $179.54 and its 200-day moving average is $187.63. The company has a current ratio of 1.08, a quick ratio of 0.38 and a debt-to-equity ratio of 0.99. Group 1 Automotive, Inc. has a 1-year low of $143.00 and a 1-year high of $212.23. The company has a market cap of $2.61 billion, a P/E ratio of 5.09, a PEG ratio of 0.37 and a beta of 1.66.
Group 1 Automotive (NYSE:GPI – Get Rating) last posted its earnings results on Thursday, February 10th. The company reported $9.43 EPS for the quarter, topping the consensus estimate of $9.06 by $0.37. Group 1 Automotive had a net margin of 3.98% and a return on equity of 35.83%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the company earned $5.66 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. On average, equities analysts forecast that Group 1 Automotive, Inc. will post 37.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, March 1st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, February 28th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a yield of 0.94%. Group 1 Automotive’s dividend payout ratio (DPR) is currently 4.79%.
Group 1 Automotive Profile (Get Rating)
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. 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. It operates primarily in 17 states in the United States; and 35 towns in the United Kingdom.
Further Reading
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