Swiss National Bank Trims Position in Group 1 Automotive, Inc. (NYSE:GPI)

Swiss National Bank lessened its stake in Group 1 Automotive, Inc. (NYSE:GPIGet Rating) by 6.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 38,200 shares of the company’s stock after selling 2,500 shares during the quarter. Swiss National Bank’s holdings in Group 1 Automotive were worth $6,486,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Group 1 Automotive by 68.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 621,455 shares of the company’s stock worth $104,299,000 after buying an additional 251,565 shares during the period. Bank of America Corp DE increased its stake in Group 1 Automotive by 21.3% in the 1st quarter. Bank of America Corp DE now owns 287,517 shares of the company’s stock worth $48,253,000 after buying an additional 50,533 shares during the period. Prudential Financial Inc. increased its stake in Group 1 Automotive by 0.9% in the 1st quarter. Prudential Financial Inc. now owns 185,211 shares of the company’s stock worth $31,084,000 after buying an additional 1,723 shares during the period. JPMorgan Chase & Co. grew its holdings in Group 1 Automotive by 38.5% during the 1st quarter. JPMorgan Chase & Co. now owns 171,227 shares of the company’s stock worth $28,737,000 after acquiring an additional 47,582 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Group 1 Automotive by 1.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 166,582 shares of the company’s stock worth $27,958,000 after acquiring an additional 2,322 shares in the last quarter. Hedge funds and other institutional investors own 98.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GPI shares. Bank of America dropped their target price on shares of Group 1 Automotive from $375.00 to $358.00 and set a “buy” rating on the stock in a report on Friday, September 9th. JPMorgan Chase & Co. upgraded shares of Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $210.00 target price on the stock in a report on Thursday, October 6th. Finally, StockNews.com started coverage on shares of Group 1 Automotive in a report on Wednesday, October 12th. They set a “buy” rating on the stock.

Group 1 Automotive Stock Down 0.8 %

NYSE:GPI opened at $190.82 on Thursday. Group 1 Automotive, Inc. has a fifty-two week low of $136.16 and a fifty-two week high of $212.23. The stock has a market capitalization of $2.78 billion, a P/E ratio of 4.64, a P/E/G ratio of 2.16 and a beta of 1.49. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.31 and a current ratio of 1.03. The company’s 50-day simple moving average is $166.18 and its 200-day simple moving average is $172.91.

Group 1 Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.39 dividend. This is a boost 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%. The ex-dividend date is Wednesday, November 30th. Group 1 Automotive’s dividend payout ratio (DPR) is currently 3.70%.

Insider Activity

In other news, SVP Frank Grese sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $178.61, for a total value of $714,440.00. Following the sale, the senior vice president now directly owns 17,846 shares in the company, valued at approximately $3,187,474.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Earl J. Hesterberg sold 30,000 shares of the stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $173.74, for a total value of $5,212,200.00. Following the completion of the transaction, the chief executive officer now directly owns 8,974 shares of the company’s stock, valued at approximately $1,559,142.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Frank Grese sold 4,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $178.61, for a total transaction of $714,440.00. Following the completion of the transaction, the senior vice president now directly owns 17,846 shares of the company’s stock, valued at $3,187,474.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,925 shares of company stock worth $8,920,415. Corporate insiders own 3.80% of the company’s stock.

Group 1 Automotive 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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