Group 1 Automotive, Inc. (GPI) Shares Bought by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can raised its position in Group 1 Automotive, Inc. (NYSE:GPI) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,006 shares of the company’s stock after buying an additional 900 shares during the period. Great West Life Assurance Co. Can owned approximately 0.14% of Group 1 Automotive worth $1,836,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in GPI. Acrospire Investment Management LLC boosted its position in Group 1 Automotive by 1,300.0% in the first quarter. Acrospire Investment Management LLC now owns 1,400 shares of the company’s stock worth $104,000 after buying an additional 1,300 shares during the last quarter. Gargoyle Investment Advisor L.L.C. purchased a new position in Group 1 Automotive during the first quarter worth about $335,000. Comerica Bank boosted its position in Group 1 Automotive by 4.3% in the first quarter. Comerica Bank now owns 22,303 shares of the company’s stock worth $1,671,000 after buying an additional 928 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Group 1 Automotive by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 333,199 shares of the company’s stock worth $24,683,000 after buying an additional 19,279 shares during the last quarter. Finally, US Bancorp DE boosted its position in Group 1 Automotive by 7.4% in the first quarter. US Bancorp DE now owns 4,695 shares of the company’s stock worth $348,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.
Group 1 Automotive, Inc. (NYSE:GPI) opened at 55.71 on Monday. The stock has a market capitalization of $1.12 billion, a PE ratio of 8.56 and a beta of 1.62. The stock has a 50 day moving average price of $58.78 and a 200-day moving average price of $66.29. Group 1 Automotive, Inc. has a 12-month low of $51.62 and a 12-month high of $83.18.
Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings results on Thursday, July 27th. The company reported $1.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.99 by $0.12. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.70 billion. Group 1 Automotive had a return on equity of 15.73% and a net margin of 1.26%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. On average, equities analysts anticipate that Group 1 Automotive, Inc. will post $7.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.72%. Group 1 Automotive’s dividend payout ratio is currently 14.75%.
Group 1 Automotive announced that its Board of Directors has initiated a share buyback program on Friday, May 12th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of equities analysts have recently issued reports on GPI shares. BidaskClub cut Group 1 Automotive from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. ValuEngine cut Group 1 Automotive from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Group 1 Automotive from a “strong sell” rating to a “hold” rating in a report on Friday, June 30th. Wells Fargo & Company reiterated a “market perform” rating and issued a $66.00 price objective (down from $75.00) on shares of Group 1 Automotive in a report on Monday, July 17th. Finally, TheStreet cut Group 1 Automotive from a “b-” rating to a “c+” rating in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Group 1 Automotive has a consensus rating of “Hold” and a consensus target price of $68.50.
Group 1 Automotive Company Profile
Group 1 Automotive, Inc is an operator in the automotive retail industry. The Company, through its dealerships, sells new and used cars and light trucks; arranges related vehicle financing; sells service and insurance contracts; provides automotive maintenance and repair services, and sells vehicle parts.
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