Northwestern Mutual Wealth Management Co. increased its stake in shares of Group 1 Automotive, Inc. (NYSE: GPI – Get Rating) by 19.8% in the first quarter, according to the company in its most recent filing with the SEC. The company held 4,799 shares of the company after acquiring an additional 793 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Group 1 Automotive were worth $805,000 when it last filed with the SEC.
A number of other hedge funds and other institutional investors have also recently changed their positions in GPI. Marshall Wace LLP increased its position in Group 1 Automotive by 1,174.6% during the 4th quarter. Marshall Wace LLP now owns 82,989 shares of the company worth $16,203,000 after purchasing an additional 76,478 shares last quarter. Boston Private Wealth LLC purchased a new stake in shares of Group 1 Automotive during the fourth quarter valued at approximately $9,763,000. Bank of America Corp DE increased its stake in shares of Group 1 Automotive by 15.2% during the fourth quarter. Bank of America Corp DE now owns 236,984 shares of the company valued at $46,263,000 after purchasing an additional 31,212 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Group 1 Automotive by 32.2% during the fourth quarter. JPMorgan Chase & Co. now owns 123,645 shares of the company valued at $24,137,000 after purchasing an additional 30,151 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Group 1 Automotive by 75.6% during the fourth quarter. American Century Companies Inc. now owns 69,817 shares of the company valued at $13,630,000 after purchasing an additional 30,058 shares in the last quarter. 99.57% of the shares are held by institutional investors.
Insider Activity at Group 1 Automotive
In related news, Vice Chairman Michael David Jones sold 1,000 shares of the company in a trade on Wednesday, June 8. The shares were sold at an average price of $181.49, for a total value of $181,490.00. Following the completion of the transaction, the vice president now owns 12,972 shares of the company, valued at $2,354,288.28. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. 3.80% of the shares are held by insiders.
Analysts set new price targets
Several research companies have recently commented on GPI. JPMorgan Chase & Co. raised its price target on shares of Group 1 Automotive from $200.00 to $210.00 and gave the company a “neutral” rating in a Monday, Aug. 1 research note. Morgan Stanley lowered its price target on shares of Group 1 Automotive from $160.00 to $142.00 and set an “underweight” rating on the stock in a Thursday, July 14 research note. Finally, StockNews.com downgraded shares of Group 1 Automotive from a “strong buy” rating to a “buy” rating in a Saturday, July 30, report.
Group 1 Automobile Trading down 0.4%
GPI opened at $190.02 on Friday. The company’s fifty-day moving average is $174.82 and its two-hundred-day moving average is $176.87. The company has a debt ratio of 0.92, a quick ratio of 0.33 and a current ratio of 1.00. The company has a market capitalization of $3.00 billion, a PE ratio of 5.01, a price-to-earnings growth ratio of 0.30 and a beta of 1.43. Group 1 Automotive, Inc. has a 12-month low of $145.72 and a 12-month high of $212.23.
Group 1 Automotive (NYSE:GPI – Get Rating) last released quarterly earnings data on Wednesday, July 27. The company reported EPS of $12.00 for the quarter, beating analyst consensus estimates of $10.56 by $1.44. The 1 Automotive group posted a net margin of 4.35% and a return on equity of 37.65%. The company posted revenue of $4.10 billion for the quarter, versus analyst estimates of $4.02 billion. During the same period last year, the company posted earnings per share of $10.31. The company’s quarterly revenue increased 10.8% year over year. Equity research analysts expect Group 1 Automotive, Inc. to post EPS of 44.73 for the current year.
Group 1 Automotive increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Investors of record on Thursday, September 1 will receive a dividend of $0.38 per share. This represents a dividend of $1.52 on an annualized basis and a dividend yield of 0.80%. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, August 31. The dividend payout ratio (DPR) of Groupe 1 Automotive is currently 3.90%.
Group 1 Automotive Company Profile
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Group 1 Automotive, Inc, through its subsidiaries, operates in the motor vehicle retail business. The company sells new and used cars, light trucks and vehicle parts, as well as service and insurance contracts; organizes the financing of related vehicles; and provides automotive maintenance and repair services. It primarily operates in 17 states of the United States; and 35 UK cities.
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