Bank of New York Mellon Corp boosted its position in Group 1 Automotive, Inc. (NYSE:GPI) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,327 shares of the company’s stock after buying an additional 1,416 shares during the period. Bank of New York Mellon Corp owned approximately 1.86% of Group 1 Automotive worth $24,527,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers boosted its stake in shares of Group 1 Automotive by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 51,977 shares of the company’s stock worth $3,275,000 after buying an additional 759 shares during the last quarter. Boston Partners lifted its stake in Group 1 Automotive by 5.0% in the second quarter. Boston Partners now owns 227,672 shares of the company’s stock valued at $14,343,000 after purchasing an additional 10,768 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Group 1 Automotive in the second quarter valued at approximately $262,000. KBC Group NV lifted its stake in Group 1 Automotive by 34.1% in the second quarter. KBC Group NV now owns 7,952 shares of the company’s stock valued at $501,000 after purchasing an additional 2,024 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its stake in Group 1 Automotive by 5.7% in the second quarter. IndexIQ Advisors LLC now owns 33,476 shares of the company’s stock valued at $2,109,000 after purchasing an additional 1,799 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.
In other news, insider Frank Grese sold 5,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $76.98, for a total transaction of $384,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lincoln Pereira sold 25,000 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $79.45, for a total transaction of $1,986,250.00. Following the completion of the transaction, the director now directly owns 67,425 shares of the company’s stock, valued at $5,356,916.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,200 shares of company stock valued at $3,012,805. 4.95% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on GPI. Zacks Investment Research raised shares of Group 1 Automotive from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Tuesday, June 12th. ValuEngine raised Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Stephens reissued a “hold” rating and issued a $95.00 target price on shares of Group 1 Automotive in a research note on Friday, July 27th. Finally, Morgan Stanley increased their target price on Group 1 Automotive from $59.00 to $64.00 and gave the company a “sell” rating in a research note on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $84.33.
NYSE GPI traded down $1.33 during trading on Friday, hitting $59.44. 407,890 shares of the company’s stock traded hands, compared to its average volume of 265,521. The company has a quick ratio of 0.26, a current ratio of 1.07 and a debt-to-equity ratio of 1.16. Group 1 Automotive, Inc. has a 12-month low of $58.32 and a 12-month high of $84.47. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 4.44 and a beta of 1.96.
Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings results on Thursday, July 26th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.31. Group 1 Automotive had a net margin of 1.97% and a return on equity of 15.73%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $1.87 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Group 1 Automotive, Inc. will post 8.92 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Stockholders of record on Tuesday, September 4th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.75%. Group 1 Automotive’s dividend payout ratio is currently 13.45%.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry. It sells new and used cars, light trucks, and vehicle parts; arranges vehicle financing; sells service and insurance contracts; and provides automotive maintenance and repair services. The company has operations primarily in the metropolitan areas of Alabama, California, Florida, Georgia, Kansas, Louisiana, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, Oklahoma, South Carolina, and Texas in the United States; 28 towns in the United Kingdom; and in the metropolitan markets of Sao Paulo, Parana, Mato Grosso do Sul, and Santa Catarina, Brazil.
Receive News & Ratings for Group 1 Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Group 1 Automotive and related companies with MarketBeat.com's FREE daily email newsletter.