Group 1 Automotive, Inc. (NYSE:GPI) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in Group 1 Automotive, Inc. (NYSE:GPI) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,437 shares of the company’s stock after selling 500 shares during the period. New York State Teachers Retirement System’s holdings in Group 1 Automotive were worth $8,614,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new position in Group 1 Automotive in the 4th quarter worth about $30,000. Assetmark Inc. lifted its position in shares of Group 1 Automotive by 51.9% during the 3rd quarter. Assetmark Inc. now owns 82 shares of the company’s stock valued at $31,000 after buying an additional 28 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Group 1 Automotive in the 3rd quarter valued at $36,000. Avior Wealth Management LLC purchased a new stake in Group 1 Automotive in the 3rd quarter worth $46,000. Finally, GAMMA Investing LLC raised its position in Group 1 Automotive by 70.4% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock worth $51,000 after acquiring an additional 50 shares during the period. 99.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPI has been the topic of several research analyst reports. Stephens reiterated an “equal weight” rating and issued a $460.00 target price on shares of Group 1 Automotive in a research report on Thursday, January 30th. StockNews.com upgraded Group 1 Automotive from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group assumed coverage on Group 1 Automotive in a research report on Friday, December 13th. They issued a “buy” rating and a $500.00 target price on the stock. Guggenheim boosted their price target on Group 1 Automotive from $420.00 to $442.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. raised their price objective on Group 1 Automotive from $420.00 to $495.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $460.33.

Insider Activity at Group 1 Automotive

In other Group 1 Automotive news, Director Lincoln Pereira sold 6,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $426.68, for a total transaction of $2,560,080.00. Following the completion of the sale, the director now owns 98,467 shares of the company’s stock, valued at $42,013,899.56. This trade represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by insiders.

Group 1 Automotive Stock Performance

NYSE GPI opened at $478.60 on Wednesday. Group 1 Automotive, Inc. has a fifty-two week low of $258.77 and a fifty-two week high of $490.09. The firm has a market capitalization of $6.37 billion, a P/E ratio of 13.02 and a beta of 1.36. The stock’s fifty day moving average is $440.33 and its two-hundred day moving average is $398.79. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.24 and a current ratio of 1.00.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.77 by $1.25. Group 1 Automotive had a net margin of 2.47% and a return on equity of 18.25%. On average, research analysts anticipate that Group 1 Automotive, Inc. will post 40.86 earnings per share for the current year.

Group 1 Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from Group 1 Automotive’s previous quarterly dividend of $0.47. Group 1 Automotive’s payout ratio is presently 5.12%.

Group 1 Automotive announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Group 1 Automotive Company Profile

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.