Alliancebernstein L.P. Grows Stock Position in Group 1 Automotive, Inc. (NYSE:GPI)

Alliancebernstein L.P. boosted its holdings in Group 1 Automotive, Inc. (NYSE:GPI) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 396,401 shares of the company’s stock after acquiring an additional 9,587 shares during the period. Alliancebernstein L.P. owned 2.98% of Group 1 Automotive worth $167,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Group 1 Automotive in the fourth quarter valued at about $30,000. GAMMA Investing LLC increased its holdings in Group 1 Automotive by 70.4% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the company’s stock valued at $51,000 after purchasing an additional 50 shares during the last quarter. Avior Wealth Management LLC raised its position in Group 1 Automotive by 25.6% in the fourth quarter. Avior Wealth Management LLC now owns 152 shares of the company’s stock valued at $64,000 after purchasing an additional 31 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Group 1 Automotive in the fourth quarter valued at $66,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Group 1 Automotive by 59.3% in the 4th quarter. Global Retirement Partners LLC now owns 188 shares of the company’s stock valued at $79,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 99.92% of the company’s stock.

Group 1 Automotive Stock Up 1.9 %

Shares of NYSE:GPI opened at $389.34 on Wednesday. Group 1 Automotive, Inc. has a fifty-two week low of $262.31 and a fifty-two week high of $490.09. The firm’s 50 day moving average price is $440.31 and its 200 day moving average price is $414.35. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 0.92. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 10.59 and a beta of 1.33.

Group 1 Automotive (NYSE:GPI) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $10.02 earnings per share 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 18.09%. As a group, equities research analysts predict that Group 1 Automotive, Inc. will post 41 earnings per share for the current fiscal year.

Group 1 Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.50 per share. This is a boost from Group 1 Automotive’s previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 3rd. Group 1 Automotive’s dividend payout ratio is currently 5.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GPI shares. Jefferies Financial Group initiated coverage on Group 1 Automotive in a report on Friday, December 13th. They set a “buy” rating and a $500.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on shares of Group 1 Automotive from $495.00 to $435.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Stephens reaffirmed an “equal weight” rating and set a $460.00 target price on shares of Group 1 Automotive in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $450.33.

Group 1 Automotive 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.