Comerica Bank cut its holdings in Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 14.4% during the third quarter, Holdings Channel reports. The institutional investor owned 12,272 shares of the company’s stock after selling 2,060 shares during the period. Comerica Bank’s holdings in Group 1 Automotive were worth $1,958,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Group 1 Automotive by 68.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 621,455 shares of the company’s stock worth $104,299,000 after acquiring an additional 251,565 shares in the last quarter. Eminence Capital LP lifted its position in shares of Group 1 Automotive by 43.3% during the 2nd quarter. Eminence Capital LP now owns 296,405 shares of the company’s stock worth $50,330,000 after buying an additional 89,602 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Group 1 Automotive by 741.5% in the 2nd quarter. Deutsche Bank AG now owns 86,153 shares of the company’s stock valued at $14,629,000 after buying an additional 75,915 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Group 1 Automotive in the 1st quarter valued at $12,452,000. Finally, Bank of America Corp DE raised its stake in Group 1 Automotive by 21.3% during the 1st quarter. Bank of America Corp DE now owns 287,517 shares of the company’s stock worth $48,253,000 after acquiring an additional 50,533 shares in the last quarter. 97.71% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Group 1 Automotive
In other Group 1 Automotive news, VP Darryl M. Burman sold 1,000 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $185.00, for a total transaction of $185,000.00. Following the completion of the transaction, the vice president now owns 22,595 shares in the company, valued at approximately $4,180,075. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Group 1 Automotive news, SVP Frank Grese sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $178.61, for a total transaction of $714,440.00. Following the transaction, the senior vice president now owns 17,846 shares in the company, valued at approximately $3,187,474.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Darryl M. Burman sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $185.00, for a total value of $185,000.00. Following the completion of the sale, the vice president now directly owns 22,595 shares of the company’s stock, valued at $4,180,075. The disclosure for this sale can be found here. Insiders have sold a total of 49,925 shares of company stock worth $8,920,415 in the last three months. Insiders own 3.80% of the company’s stock.
Group 1 Automotive Trading Down 1.2 %
Group 1 Automotive (NYSE:GPI – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $12.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.99 by $1.01. Group 1 Automotive had a return on equity of 36.79% and a net margin of 4.32%. The firm had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Analysts expect that Group 1 Automotive, Inc. will post 45.66 earnings per share for the current year.
Group 1 Automotive Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, November 30th. This is an increase from Group 1 Automotive’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. Group 1 Automotive’s dividend payout ratio (DPR) is currently 3.80%.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Group 1 Automotive in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Morgan Stanley dropped their price target on Group 1 Automotive from $142.00 to $134.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised Group 1 Automotive from a “neutral” rating to an “overweight” rating and set a $210.00 price target on the stock in a research report on Thursday, October 6th.
Group 1 Automotive Company Profile
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.
- Get a free copy of the StockNews.com research report on Group 1 Automotive (GPI)
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