TD Asset Management Inc Lowers Position in Group 1 Automotive, Inc. (NYSE:GPI)

TD Asset Management Inc reduced its stake in Group 1 Automotive, Inc. (NYSE:GPIFree Report) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,246 shares of the company’s stock after selling 317 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of Group 1 Automotive worth $3,732,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GPI. Norges Bank purchased a new stake in Group 1 Automotive in the 4th quarter valued at $46,923,000. Hennessy Advisors Inc. purchased a new stake in shares of Group 1 Automotive during the 4th quarter valued at $24,562,000. The Manufacturers Life Insurance Company increased its position in shares of Group 1 Automotive by 12.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 574,561 shares of the company’s stock valued at $154,390,000 after purchasing an additional 63,726 shares during the last quarter. Covalis Capital LLP purchased a new stake in shares of Group 1 Automotive during the 3rd quarter valued at $16,330,000. Finally, Boston Partners increased its position in shares of Group 1 Automotive by 66.3% during the 4th quarter. Boston Partners now owns 79,598 shares of the company’s stock valued at $23,819,000 after purchasing an additional 31,739 shares during the last quarter. 99.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPI has been the subject of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $330.00 target price on shares of Group 1 Automotive in a research report on Tuesday, February 13th. Guggenheim upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating and set a $305.00 price target for the company in a research note on Wednesday, April 17th. JPMorgan Chase & Co. cut their price target on Group 1 Automotive from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Morgan Stanley upgraded Group 1 Automotive from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $200.00 to $255.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $330.83.

Get Our Latest Analysis on Group 1 Automotive

Group 1 Automotive Stock Up 1.1 %

Shares of NYSE GPI opened at $309.32 on Friday. Group 1 Automotive, Inc. has a 52 week low of $228.84 and a 52 week high of $323.95. The business has a 50-day simple moving average of $294.68 and a two-hundred day simple moving average of $284.28. The company has a quick ratio of 0.27, a current ratio of 1.04 and a debt-to-equity ratio of 0.87. The company has a market cap of $4.19 billion, a P/E ratio of 7.30, a P/E/G ratio of 1.58 and a beta of 1.37.

Group 1 Automotive (NYSE:GPIGet Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $9.49 EPS for the quarter, missing the consensus estimate of $9.52 by ($0.03). Group 1 Automotive had a return on equity of 22.45% and a net margin of 3.23%. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.30 billion. Research analysts anticipate that Group 1 Automotive, Inc. will post 38.86 earnings per share for the current fiscal year.

Group 1 Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.47 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.88 annualized dividend and a yield of 0.61%. Group 1 Automotive’s dividend payout ratio is currently 4.44%.

Insiders Place Their Bets

In other Group 1 Automotive news, VP Michael David Jones sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total value of $412,482.00. Following the sale, the vice president now owns 11,535 shares of the company’s stock, valued at approximately $3,398,557.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Group 1 Automotive news, VP Michael David Jones sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $294.63, for a total value of $412,482.00. Following the sale, the vice president now owns 11,535 shares of the company’s stock, valued at approximately $3,398,557.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel James Mchenry sold 2,437 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $309.61, for a total value of $754,519.57. Following the completion of the sale, the chief financial officer now directly owns 22,430 shares in the company, valued at approximately $6,944,552.30. The disclosure for this sale can be found here. Insiders sold a total of 4,007 shares of company stock worth $1,221,218 in the last quarter. 1.70% of the stock is owned by company insiders.

About Group 1 Automotive

(Free Report)

Group 1 Automotive, Inc, through its subsidiaries, operates in the automotive retail industry in the United States and the United Kingdom. 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.

See Also

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

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