Principal Financial Group Inc. Sells 10,450 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Principal Financial Group Inc. reduced its position in Group 1 Automotive, Inc. (NYSE:GPIGet Rating) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,151 shares of the company’s stock after selling 10,450 shares during the quarter. Principal Financial Group Inc.’s holdings in Group 1 Automotive were worth $19,213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI lifted its position in Group 1 Automotive by 19.1% in the second quarter. National Bank of Canada FI now owns 418 shares of the company’s stock worth $71,000 after purchasing an additional 67 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Group 1 Automotive by 3.4% in the first quarter. Mercer Global Advisors Inc. ADV now owns 3,264 shares of the company’s stock worth $548,000 after purchasing an additional 106 shares during the period. First Republic Investment Management Inc. lifted its position in Group 1 Automotive by 5.4% in the first quarter. First Republic Investment Management Inc. now owns 3,441 shares of the company’s stock worth $577,000 after purchasing an additional 175 shares during the period. National Asset Management Inc. lifted its position in Group 1 Automotive by 10.1% in the first quarter. National Asset Management Inc. now owns 1,934 shares of the company’s stock worth $326,000 after purchasing an additional 178 shares during the period. Finally, Islay Capital Management LLC lifted its position in Group 1 Automotive by 20.1% in the second quarter. Islay Capital Management LLC now owns 1,069 shares of the company’s stock worth $182,000 after purchasing an additional 179 shares during the period. 98.70% of the stock is owned by institutional investors.

Group 1 Automotive Stock Down 1.7 %

Shares of NYSE GPI opened at $190.96 on Tuesday. The stock has a market cap of $2.78 billion, a PE ratio of 4.65, a PEG ratio of 2.19 and a beta of 1.49. The business has a fifty day moving average of $164.95 and a two-hundred day moving average of $172.72. Group 1 Automotive, Inc. has a 52-week low of $136.16 and a 52-week high of $212.23. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.31 and a current ratio of 1.03.

Group 1 Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $0.39 dividend. The ex-dividend date is Wednesday, November 30th. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.82%. Group 1 Automotive’s dividend payout ratio (DPR) is 3.70%.

Wall Street Analyst Weigh In

GPI has been the subject of several research reports. JPMorgan Chase & Co. raised Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $210.00 target price for the company in a research report on Thursday, October 6th. Bank of America cut their price objective on Group 1 Automotive from $375.00 to $358.00 and set a “buy” rating for the company in a report on Friday, September 9th. Finally, StockNews.com began coverage on Group 1 Automotive in a report on Wednesday, October 12th. They set a “buy” rating for the company.

Insider Activity

In other news, CEO Earl J. Hesterberg sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $173.74, for a total value of $5,212,200.00. Following the completion of the sale, the chief executive officer now directly owns 8,974 shares in the company, valued at $1,559,142.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Earl J. Hesterberg sold 13,925 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $189.14, for a total value of $2,633,774.50. Following the completion of the sale, the chief executive officer now directly owns 76,079 shares in the company, valued at $14,389,582.06. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Earl J. Hesterberg sold 30,000 shares of Group 1 Automotive stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $173.74, for a total value of $5,212,200.00. Following the completion of the sale, the chief executive officer now owns 8,974 shares of the company’s stock, valued at $1,559,142.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,925 shares of company stock worth $8,920,415. 3.80% of the stock is owned by corporate insiders.

Group 1 Automotive Company Profile

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

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