Principal Financial Group Inc. Sells 8,763 Shares of Group 1 Automotive, Inc. (NYSE:GPI)

Principal Financial Group Inc. decreased its holdings in shares of Group 1 Automotive, Inc. (NYSE:GPI – Get Rating) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,361 shares of the company’s stock after selling 8,763 shares during the period. Principal Financial Group Inc.’s holdings in Group 1 Automotive were worth $16,659,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings 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 during the period. Clearbridge Investments LLC bought a new position in Group 1 Automotive in the 1st quarter valued at approximately $12,452,000. Hodges Capital Management Inc. bought a new position in Group 1 Automotive in the 4th quarter valued at approximately $4,328,000. Skandinaviska Enskilda Banken AB publ lifted its position in Group 1 Automotive by 28.4% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 98,100 shares of the company’s stock valued at $14,016,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Group 1 Automotive by 206.9% in the 1st quarter. Royal Bank of Canada now owns 31,641 shares of the company’s stock valued at $5,311,000 after acquiring an additional 21,331 shares in the last quarter. Institutional investors own 97.71% of the company’s stock.

Wall Street Analysts Forecast Growth

GPI has been the topic of several analyst reports. Stephens upped their price objective on Group 1 Automotive from $275.00 to $290.00 in a research report on Thursday, January 26th. StockNews.com initiated coverage on Group 1 Automotive in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. increased their price target on Group 1 Automotive from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, February 21st.

Group 1 Automotive Stock Up 1.9 %

Shares of NYSE:GPI opened at $225.33 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.27 and a debt-to-equity ratio of 0.81. Group 1 Automotive, Inc. has a 12 month low of $136.16 and a 12 month high of $242.68. The company has a 50-day moving average price of $219.35 and a 200 day moving average price of $207.11. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 1.75 and a beta of 1.47.

Group 1 Automotive (NYSE:GPI – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The company reported $10.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.70 by $1.23. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $3.92 billion. Group 1 Automotive had a net margin of 4.20% and a return on equity of 31.16%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $10.81 earnings per share. As a group, equities research analysts predict that Group 1 Automotive, Inc. will post 40.94 earnings per share for the current year.

Group 1 Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, May 31st. Group 1 Automotive’s dividend payout ratio (DPR) is presently 3.89%.

Insider Activity at Group 1 Automotive

In related news, VP Michael David Jones sold 1,500 shares of Group 1 Automotive stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $229.67, for a total transaction of $344,505.00. Following the transaction, the vice president now directly owns 13,355 shares of the company’s stock, valued at $3,067,242.85. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.50% of the stock is currently owned by corporate insiders.

Group 1 Automotive Profile

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Group 1 Automotive, Inc engages in the automotive retailing industry. The firm operates through the following geographical segments: U.S, the UK, and Brazil. It also sells new and used cars and light trucks, arranges related vehicle financing, sells service contracts, provides automotive maintenance and repair services, and sells vehicle parts.