California Public Employees Retirement System raised its position in Group 1 Automotive Inc. (NYSE:GPI) by 9.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,900 shares of the company’s stock after buying an additional 4,600 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Group 1 Automotive worth $2,611,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in GPI. BlackRock Inc. increased its stake in Group 1 Automotive by 77.2% in the first quarter. BlackRock Inc. now owns 2,522 shares of the company’s stock worth $148,000 after buying an additional 1,099 shares during the last quarter. Societe Generale purchased a new stake in Group 1 Automotive during the second quarter worth approximately $134,000. SG Americas Securities LLC purchased a new stake in Group 1 Automotive during the second quarter worth approximately $134,000. KBC Group NV increased its stake in Group 1 Automotive by 159.6% in the second quarter. KBC Group NV now owns 4,611 shares of the company’s stock worth $228,000 after buying an additional 2,835 shares during the last quarter. Finally, Aperio Group LLC increased its stake in Group 1 Automotive by 26.2% in the first quarter. Aperio Group LLC now owns 4,688 shares of the company’s stock worth $275,000 after buying an additional 973 shares during the last quarter. 97.19% of the stock is currently owned by hedge funds and other institutional investors.
Group 1 Automotive Inc. (NYSE:GPI) traded up 3.89% during trading on Friday, reaching $63.89. The company had a trading volume of 118,549 shares. The stock has a 50 day moving average price of $60.19 and a 200 day moving average price of $58.68. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.05 and a beta of 1.63. Group 1 Automotive Inc. has a 12 month low of $47.31 and a 12 month high of $89.64.
Group 1 Automotive (NYSE:GPI) last posted its earnings results on Thursday, July 28th. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $2.09 by $0.07. Group 1 Automotive had a return on equity of 17.97% and a net margin of 0.82%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period last year, the firm earned $1.98 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Group 1 Automotive Inc. will post $7.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, August 30th. Group 1 Automotive’s dividend payout ratio (DPR) is presently 22.66%.
A number of analysts have commented on GPI shares. TheStreet upgraded Group 1 Automotive from a “hold” rating to a “buy” rating in a research report on Thursday, September 15th. Buckingham Research upgraded Group 1 Automotive from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 20th. Zacks Investment Research upgraded Group 1 Automotive from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Tuesday. Finally, Seaport Global Securities began coverage on Group 1 Automotive in a research report on Tuesday, August 9th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.33.
In other news, CEO Earl J. Hesterberg sold 10,000 shares of Group 1 Automotive stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. Following the transaction, the chief executive officer now directly owns 165,251 shares in the company, valued at approximately $9,910,102.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Darryl M. Burman sold 2,000 shares of Group 1 Automotive stock in a transaction on Monday, August 29th. The shares were sold at an average price of $58.90, for a total value of $117,800.00. Following the transaction, the vice president now owns 72,633 shares in the company, valued at $4,278,083.70. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.
About Group 1 Automotive
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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