Group 1 Automotive, Inc. (NYSE:GPI) Stock Position Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in shares of Group 1 Automotive, Inc. (NYSE:GPI) by 0.2% in the 3rd quarter, Holdings Channel reports. The firm owned 637,600 shares of the company’s stock after selling 1,542 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Group 1 Automotive were worth $244,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Advisor Solutions LLC acquired a new stake in Group 1 Automotive in the second quarter worth about $452,000. Raymond James & Associates boosted its position in shares of Group 1 Automotive by 8.3% during the 2nd quarter. Raymond James & Associates now owns 40,541 shares of the company’s stock valued at $12,052,000 after purchasing an additional 3,095 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Group 1 Automotive in the 3rd quarter worth approximately $3,286,000. Susquehanna Fundamental Investments LLC raised its holdings in shares of Group 1 Automotive by 327.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 15,459 shares of the company’s stock worth $4,596,000 after purchasing an additional 11,839 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in Group 1 Automotive by 25.8% during the third quarter. Pathstone Holdings LLC now owns 10,180 shares of the company’s stock valued at $3,899,000 after purchasing an additional 2,089 shares during the last quarter. 99.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Edward Mckissic sold 79 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $374.01, for a total value of $29,546.79. Following the sale, the vice president now owns 6,259 shares of the company’s stock, valued at $2,340,928.59. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Group 1 Automotive from $420.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Stephens started coverage on Group 1 Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $394.00 price target on the stock. Morgan Stanley raised shares of Group 1 Automotive from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $285.00 to $430.00 in a research note on Wednesday, September 25th. StockNews.com raised shares of Group 1 Automotive from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Guggenheim upped their price target on shares of Group 1 Automotive from $420.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $425.20.

Group 1 Automotive Stock Performance

Shares of GPI opened at $433.74 on Tuesday. The company has a market capitalization of $5.78 billion, a PE ratio of 11.54 and a beta of 1.33. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.00 and a quick ratio of 0.24. Group 1 Automotive, Inc. has a one year low of $255.73 and a one year high of $440.32. The company’s fifty day moving average price is $377.50 and its 200 day moving average price is $342.90.

Group 1 Automotive (NYSE:GPI) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $9.90 EPS for the quarter, topping analysts’ consensus estimates of $9.87 by $0.03. Group 1 Automotive had a return on equity of 18.49% and a net margin of 2.68%. The business had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the previous year, the company posted $12.07 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, analysts expect that Group 1 Automotive, Inc. will post 38.37 earnings per share for the current year.

Group 1 Automotive announced that its board has authorized a share repurchase plan on Tuesday, November 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 9.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Group 1 Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, December 2nd. Group 1 Automotive’s dividend payout ratio (DPR) is presently 5.01%.

About Group 1 Automotive

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.